Xiaomi says US has formally lifted securities ban

Xiaomi was placed on the blacklist in January in the waning days of the Trump administration.

By:REUTERS
| Updated on: Aug 21 2022, 17:32 IST
It said the order was made on Tuesday.
It said the order was made on Tuesday. (REUTERS)

China's Xiaomi Corp said on Wednesday a U.S. court has removed the company's designation as a Communist Chinese Military Company (CCMC) and lifted all restrictions on U.S. persons buying or holding its stock.

"The U.S. District Court for the District of Columbia issued a final order vacating the U.S. Department of Defense's designation of the company as a CCMC," the smartphone maker said in a filing to the Hong Kong bourse. It said the order was made on Tuesday.

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"The company reiterates that it is an open, transparent, publicly traded, independently operated and managed corporation," Xiaomi chairman Lei Jun said in the statement.

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A court filing showed earlier in May that the U.S Defense Department would remove Xiaomi from a government blacklist, marking a reversal by the Biden administration of one of Donald Trump's last jabs at Beijing before exiting office.

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First Published Date: 26 May, 10:19 IST
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