Chinese smartphone maker Xiaomi was officially removed from a U.S. government blacklist of "Chinese military companies," said Xiaomi in a statement on Wednesday
The U.S. District Court for the District of Columbia issued a final judgment on Tuesday afternoon, Eastern time, lifting the U.S. Department of Defense's recognition of Xiaomi as a "Chinese military company," said the statement on the Hong Kong Stock Exchange's website.
It formally lifted all restrictions on the purchase or holding of the company's securities by U.S. investors, the statement said.
On January 14, nine Chinese firms including Xiaomi were added to a blacklist of alleged Chinese military companies under a ban issued by former U.S. President Donald Trump, which requests American investors to divest their holdings of the blacklisted firms by November 11, 2021.
China responded that there is no basis or procedural justice for the U.S. government in branding civil tech companies like Xiaomi as "Chinese military companies."
On January 29, Xiaomi issued a legal complaint against the U.S. Defense and Treasury departments.
In May, Xiaomi and the U.S. government reached an agreement to set aside the blacklisting that could have restricted U.S. investment in the company.
