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US District Court lifted ban on American Investment: Xiaomi


Web DeskWeb Editor

26th May, 2021. 12:44 pm
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US District Court lifted ban on American Investment: Xiaomi

Global Conglomerate Xiaomi said that the US district court ordered the Defense Department to lift a ban on American investment in the company.

The US District Court for the District of Columbia issued a ruling ordering the US Department of Defense to remove Xiaomi from the Communist Chinese military companies (CCMC) list.

The Chinese Smartphone maker said that the order officially revoked all restrictions on the purchase or holding of the company’s securities by US investors.

It should be noted that an executive order signed by former US President Donald Trump in November banned American investment in companies that it deemed owned, controlled, or affiliated with China’s military.

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