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China has initiated a cybersecurity investigation into Micron Technology, a leading American memory chip manufacturer, in what appears to be a response to new restrictions imposed by US allies on the sale of crucial technology to Beijing. The Cyberspace Administration of China (CAC) has announced that it will be conducting a review of Micron’s products sold in the country to ensure the security of key information infrastructure supply chains and prevent cybersecurity risks.
This move comes as Japan, a key US ally, announced restrictions on the export of advanced chip manufacturing equipment to China, following similar actions by the United States and the Netherlands. These measures have been aimed at curtailing China’s semiconductor industry and hindering its efforts to become a tech powerhouse.
Micron, in response to the review, has stated that it is cooperating with the CAC and is confident in the security of its products. Despite this, shares in Micron saw a 4.4% drop on Wall Street on Friday, the largest decline in over three months. The company had previously warned of risks related to potential restrictions from the Chinese government that could impact its operations in the country.
China has been vocal in its opposition to these restrictions on tech exports, emphasizing its commitment to attracting foreign investments to drive economic growth and job creation. Despite offering a welcoming environment for global CEOs, Beijing has also been applying pressure on foreign companies to align with its policies, as demonstrated by recent actions taken against US corporate intelligence firm Mintz Group and audit firm Deloitte.
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