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In recent news, China has initiated a cybersecurity probe into Micron Technology, a leading American memory chip maker. This move appears to be in response to new restrictions imposed by US allies in Asia and Europe on the sale of crucial technology to Beijing.
The Cyberspace Administration of China (CAC) announced that they will be scrutinizing Micron’s products sold in the country to ensure key information infrastructure supply chains remain secure and free from cybersecurity risks. This step is essential to maintain national security in China.
Several nations including Japan, the United States, and the Netherlands have imposed restrictions on China’s semiconductor industry, which significantly impacts Beijing’s ambitions to establish itself as a tech superpower.
Micron Technology has confirmed that it is cooperating with the CAC’s review and is confident in the security of its products. However, the news has had an impact on Micron’s stock as shares dropped significantly on Wall Street on Friday.
In a previous filing, Micron had warned of potential risks associated with the Chinese market. The company expressed concerns about potential restrictions imposed by the Chinese government that could hinder its ability to compete effectively in the country.
China has strongly condemned the restrictions on tech exports and is actively seeking foreign investments to support economic growth. While Beijing is rolling out the red carpet for global CEOs, it is also increasing pressure on foreign companies to align with its policies.
Amidst these developments, foreign firms operating in China, such as Mintz Group and Deloitte, have faced challenges with authorities.
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