On November 3rd, in Beijing, China’s commerce minister discussed with the President of Micron Technology Inc. The minister expressed China’s openness to Micron Technology expanding its presence in the Chinese market, indicating improved relations between the world’s top two economies.
The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights
During their meeting on November 1st, Commerce Minister Wang Wentao assured Sanjay Mehrotra, President and CEO of Micron Technology, that China would enhance the business environment for foreign investors and provide support to foreign companies. This information was shared in a brief statement on the commerce ministry’s website.
Wang Wentao stated, “We are pleased to see Micron Technology continuing to grow in the Chinese market while adhering to Chinese laws and regulations.”
This positive development follows a period when China’s cyberspace regulator had raised concerns about Micron’s network security, leading to restrictions on Chinese operators buying from the most prominent U.S. memory chipmaker. It was widely seen as a response to the U.S. limiting China’s access to critical technology. This move occurred shortly after the Group of Seven (G7) nations focused on risk reduction rather than complete separation from China. Additionally, Washington had been urging its allies to restrict the export of chip equipment to China.
The meeting between Wang and Mehrotra aligns with recent efforts to reduce tensions between Washington and Beijing. Both countries are working to arrange a meeting between U.S. President Joe Biden and Chinese President Xi Jinping later this month at the Asia-Pacific Economic Cooperation summit in San Francisco.
