CHINA-US: US FEDERAL COURT LIFTS RESTRICTIONS ON US INVESTORS BUYING OR HOLDING SECURITIES OF XIAOMI CORP

A federal court in Washington issued a final order Tuesday vacating the designation by the U.S. Department of Defense of Smartphone-maker Xiaomi as subject to sanctions for alleged ties to China’s military, the Hong Kong-listed company said in a securities filing. The court’s move to vacate means the formal lifting of restrictions on U.S. investors buying or holding securities of Xiaomi, currently the world’s third-largest smartphone-maker and the fastest growing among the top five vendors.

(Comment: Xiaomi Corp. is off the hook, for now, from an order handed down in the final days of the Trump administration that placed the company on the U.S. government’s proscribed Communist Chinese military companies (CCMC) list.)






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