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China has initiated a cybersecurity investigation into Micron Technology, a prominent memory chip manufacturer in the United States. This move is widely viewed as a reaction to new trade restrictions imposed by American allies in Asia and Europe on the sale of critical technology to Beijing.
The Cyberspace Administration of China (CAC) has announced a review of Micron’s products sold within the country, with a primary focus on safeguarding key information infrastructure supply chains and preventing cybersecurity risks. This development coincides with Japan’s decision to limit the export of advanced chip manufacturing equipment to China, aligning with prior actions taken by the US and the Netherlands.
Washington and its partners have implemented barriers targeting China’s semiconductor sector, challenging the nation’s aspirations to dominate the tech industry. Notably, the Netherlands and the US have both recently introduced restrictions on the export of semiconductor technology to protect national security interests.
Micron Technology has confirmed its awareness of the review and is actively cooperating with the CAC. The company reiterated its commitment to product security and assured that its operations remain unaffected. However, Micron’s stock experienced a notable 4.4% decline on Wall Street, marking the most substantial decrease in over three months, with shares closing an additional 1.2% lower on Monday.
With more than 10% of its revenue stemming from China, Micron had previously cautioned about potential risks associated with market restrictions in the region. Beijing has strongly opposed limitations on tech exports, emphasizing its stance against such actions.
As Beijing aims to attract foreign investments amid economic challenges, recent developments have showcased a dual approach of welcome and pressure towards global entities. While extending invitations to foreign CEOs and promising a conducive business environment, China has also intensified scrutiny on international firms to align with its policies.
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