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China's cyberspace regulator said on Sunday that products made by U.S. memory chip manufacturer Micron Technology had failed its network security review and that it would bar operators of key infrastructure from procuring from the firm:
The decision, announced amid a dispute over chip technology between Washington and Beijing, could include sectors ranging from transport to finance, according to China's broad definition of critical information infrastructure.
"The review found that Micron's products have serious network security risks, which pose significant security risks to China's critical information infrastructure supply chain, affecting China's national security," the Cyberspace Administration of China (CAC) said in a statement.
[...] U.S. officials, including members of a U.S. congressional select committee on competition with China, did not immediately respond to requests for comment.
Micron derives around 10% of its revenue from China, but it is not clear if the decision affects the company's sales to non-Chinese customers in the country.
Also at The Register, MarketWatch and ABC News.
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- Netherlands Refuses to Summarily Agree to US Export Restrictions on China Over Silicon Chips
- US Chip Makers Hit by New China Export Rule
(Score: 2) by RamiK on Tuesday May 23 2023, @03:15PM
It's not insider's trade when people believe/know and act on what a goverment is about to do. In fact, goverment owned and/or funded companies and/or the goverment themselves can buy stocks in various markets directly. e.g. It's fairly common with pension funds to invest in various securities and such...
there are plenty of workarounds for a foreign investment restriction...
Worked great for Softbank and ARM China...
compiling...