China Launches Investigation into US Chip Maker Micron Technology Over Cybersecurity Concerns amid Escalating Tech Tensions
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In recent news, Micron Technology, one of the largest memory chip makers in America, is facing a cybersecurity probe by the Cyberspace Administration of China (CAC). This investigation appears to be in retaliation after US allies in Asia and Europe announced new restrictions on the sale of key technology to Beijing.
The CAC will review Micron’s products sold in China to ensure the security of key information infrastructure supply chains and prevent cybersecurity risks. This move is seen as a measure to safeguard national security.
This development comes as Japan, a US ally, announced its own restrictions on the export of advanced chip manufacturing equipment to countries including China. The United States and the Netherlands have also implemented similar restrictions on China’s semiconductor industry.
Micron, however, remains committed to the security of its products and is cooperating fully with the CAC’s review. The company’s product shipments, engineering, manufacturing, sales, and other functions are operating as normal.
Despite Micron’s assurance, the news of the cybersecurity probe has caused a drop in the company’s shares. In response to the developing situation, Micron had previously warned of the risks associated with restrictions imposed by the Chinese government.
China has voiced its opposition to such restrictions, emphasizing its commitment to promoting growth and job creation through foreign investments. However, Beijing has also been exerting pressure on foreign companies to align with its agenda.
In recent months, authorities in China have taken action against foreign companies, such as closing offices and imposing fines, to enforce compliance with their policies. This highlights the need for businesses to navigate the challenges of operating in the Chinese market.
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