CHINA-US: US DEFENCE DEPARTMENT BLACKLISTS XIAOMI CORP. FOR LINKS WITH PLA
Shares of smartphone-maker Xiaomi Corp. closed down more than 10% in Hong Kong on January 15, as the U.S. Defense Department added it to its blacklist of enterprises with alleged links to the China's military on January 14, alongwith the Commercial Aircraft Corp. of China Ltd. The surprise move means that Americans need to divest from the company, which benefited from U.S. sanctions against its rival Huawei Technologies Co. Ltd. and became the world’s No. 3 smartphone maker in the third quarter last year.
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