China Embassy in US cites national security concerns to defend cybersecurity review on Micron

Anil Panchal FXStreet

Early Wednesday in Asia, China’s embassy in the US defended its cybersecurity review on the US chipmaker Micron by citing the national security concerns, especially after US Commerce Secretary Gina Raimondo complained about the hardships for the US firms in China.

China Embassy, however, also ruled out speculations of targeting particular countries or regions, as well as turned down chatters about Beijing’s exit of certain technologies or products from any specific country.

“China is working to ease market access further, treat foreign companies in the same manner as domestic firms,” said the Chinese embassy in Washington while adding that China will only open its doors even wider to the outside world.

Market reaction

The news prods the market’s optimism and allows the AUD/USD bulls to take a breather at the weekly high, as well as checks the US Dollar Index (DXY) bears.

Also read: US Commerce Secretary Raimondo: Companies complain China has become risky to do business

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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