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In recent news, China has launched a cybersecurity probe into Micron Technology, one of America’s largest memory chip makers. This appears to be a retaliation after US allies in Asia and Europe announced new restrictions on the sale of key technology to Beijing.
The Cyberspace Administration of China (CAC) will review the products sold by Micron in the country to ensure the security of key information infrastructure supply chains, prevent cybersecurity risks, and maintain national security. This move comes in response to Japan, a US ally, announcing restrictions on the export of advanced chip manufacturing equipment to countries including China.
The United States and its allies have been implementing curbs on China’s semiconductor industry, which undermines Beijing’s goal of becoming a tech superpower. The Netherlands also recently imposed new restrictions on overseas sales of semiconductor technology, citing the need to protect national security. Furthermore, the United States banned Chinese companies from buying advanced chips and chipmaking equipment without a license.
Micron Technology, in response to the cybersecurity probe, stated that it is fully cooperating with the CAC and stands by the security of its products. However, the news has affected its stock prices, with shares sinking 4.4% on Wall Street and dropping another 1.2% on Monday. Micron earns more than 10% of its revenue from China.
This situation highlights the risks foreign companies face when dealing with China. While the Chinese government aims to attract foreign investment and create jobs, it also puts pressure on foreign companies to comply with its agenda. It has recently closed the Beijing office of a US corporate intelligence firm and suspended Deloitte’s operations in Beijing.
At our company, we understand the challenges and complexities of the technology industry. With our expertise in software outsourcing, nearshore and offshore development, mobile app development, technology maintenance, and web server development, we can help your business navigate through these issues while providing high-quality software solutions. Trust us to deliver outstanding results and drive your business forward.