China investigates Micron Technology for cybersecurity concerns amidst rising technology tensions
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China recently initiated a cybersecurity investigation into Micron Technology, a major memory chip manufacturer in the United States, in what appears to be a retaliatory move following new restrictions imposed by US allies in Asia and Europe on the sale of crucial technology to China.
The Cyberspace Administration of China (CAC) announced that they will be reviewing products sold by Micron within the country to ensure the security of key information infrastructure supply chains and prevent cybersecurity risks associated with potential product issues, all in the name of national security.
This move comes as Japan, a key US ally, also announced restrictions on exporting advanced chip manufacturing equipment to various countries, including China, following in the footsteps of similar restrictions imposed by the US and the Netherlands.
China has been facing curbs on its semiconductor industry by the US and its allies, hindering Beijing’s ambition to become a technology powerhouse. Micron, a US-based company heavily reliant on the Chinese market for over 10% of its revenue, reported a 4.4% drop in its shares on Wall Street after news of the cybersecurity probe broke.
Despite this scrutiny, Micron has expressed confidence in the security of its products and assured that its operations are running smoothly, with ongoing cooperation with CAC.
As tensions around tech exports continue, China has voiced its opposition to such restrictions, emphasizing its desire to attract foreign investments to stimulate economic growth. However, Beijing has also increased pressure on foreign companies to align with its policies, as seen in recent crackdowns on firms like Mintz Group and Deloitte.
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