The Chinese company Xiaomi said on Wednesday that a US court invalidated the Pentagon’s decision to list it as a “Chinese communist military enterprise” and lifted all restrictions on American individuals and companies buying its shares.
On May 25 at 16:09 local time, the District of Columbia court issued its final verdict, invalidating the Pentagon’s decision to classify Xiaomi as a Chinese military company. Thus, the restrictions on the ownership of securities issued by Xiaomi, as well as on their acquisition by American investors, were officially completely lifted.
Xiaomi added that it will continue to create high-tech products to meet the demand of a huge user base of fans from all over the world.
Two weeks ago, the US government admitted its mistake and announced its readiness to settle this issue with Xiaomi Group and exclude the company from the military blacklist.
Earlier this year, the Donald Trump administration in the United States blacklisted Xiaomi for alleged links with the Chinese military.