China is conducting a cybersecurity investigation into Micron Technology, a major American memory chip manufacturer, in response to new restrictions on technology sales to Beijing by US allies in Asia and Europe. The Cyberspace Administration of China (CAC) will be examining Micron’s products sold in the country to ensure the security of key information infrastructure supply chains. This investigation is part of efforts to prevent cybersecurity risks and maintain national security.
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This move by China comes after Japan announced export restrictions on advanced chip manufacturing equipment to several countries, including China. The United States and the Netherlands have also imposed curbs on China’s semiconductor industry, impacting Beijing’s ambition to become a tech superpower. These restrictions have prompted Micron to cooperate with the CAC’s review, indicating that its products are secure and operations are normal.
Despite the news leading to a 4.4% drop in Micron’s shares on Wall Street, the company remains committed to its market presence in China. Micron’s revenue from China makes up over 10% of its total revenue, emphasizing the importance of the Chinese market. As a company based in Idaho, Micron had previously warned about potential risks from the Chinese government’s actions, highlighting its cautious approach to the situation.
China’s response to the restrictions on tech exports reflects its commitment to boosting economic growth and job creation. As Beijing seeks foreign investments amidst economic challenges, it aims to create a favorable environment for businesses. However, recent actions such as shutting down the Beijing office of a US corporate intelligence firm and suspending the operations of a prominent audit firm underscore China’s efforts to bring foreign companies in line with its agenda.
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