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China has initiated a cybersecurity probe into Micron Technology, a leading American memory chip maker, possibly in retaliation to new restrictions on technology sales to Beijing by US allies. The Cyberspace Administration of China (CAC) will assess Micron’s products in the country to ensure the security of key information infrastructure supply chains. This action comes as Japan and other countries announced limits on exporting advanced chip manufacturing equipment to China, in line with the United States’ measures.
Micron has confirmed its cooperation with the CAC and stands by the security of its products. The scrutiny has impacted Micron’s stock prices, with a 4.4% decline on Wall Street and an additional 1.2% decrease on Monday. The company had previously warned of potential risks related to Chinese government restrictions on market participation.
China has expressed opposition to tech export restrictions, aiming to attract foreign investments while also pressuring foreign companies to align with its goals. Recent actions include closing the Beijing office of a US corporate intelligence firm and suspending operations of an auditing firm, imposing hefty fines in the process.
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