China to welcome Micron’s expansion as relations with US ease

News Snapshot:

China's commerce minister suggested that the Asian country is open to U.S. semiconductor company Micron Technology (NASDAQ:MU) expanding its presence in the Chinese market, Reuters reported. The move indicates a sign of easing relations between the two countries amid the U.S. bringing export restrictions on China in key technologies areas, including artificial intelligence, or AI. China's Commerce Minister Wang Wentao in a meeting on Wednesday told President and CEO of Micron Technology Sanjay Mehrotra that China will optimize the environment for foreign investment and provide service guarantees for foreign enterprises, the report added citing a statement from the commerce ministry....