US gov't removes Xiaomi from "Chinese military companies" list
The American government no longer considers Xiaomi as a Communist Chinese Military Company (CCMC), subsequently lifting the US investment ban.
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| File photo: Mi 10 |
US lifts investment ban vs Xiaomi
Xiaomi, in a statement on Wednesday, said the US District Court for the District of Columbia issued a final judgment, lifting the Department of Defense's brand of the company as a "Chinese military company".
The order also lifted all restrictions on US investors buying or holding Xiaomi's stocks.
This news came a month following the reported removal of the company from the US blacklist.
This development came after a few months after Xiaomi and eight others were added to the US government's blacklist of alleged Chinese military companies, ordered by former US President Donald Trump.
The company is grateful for the trust and support of all its global users, partners, employees, and shareholders, Xiaomi's chairman Lei Jun was quoted as saying in the statement.
The Xiaomi chief reiterated that the company "is an open, transparent, publicly-traded, independently operated and managed corporation."
The official vowed Xiaomi will continue to provide reliable consumer electronics products and services to its users.
Currently, Xiaomi is the world's third-largest mobile maker just behind Apple and Samsung.
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