Last January in the last bars of Donald Trump in the White House A series of agreements were signed by which the Chinese firm Huawei was also included in the same blacklist that Huawei was part of, considering it to be a Chinese communist military company. Something that has ceased to have effect with the judicial resolution of the US court and that has shared Xiaomi with the media.
In the last two years, the United States has added a multitude of Chinese companies to its blacklist in the Commerce Department, which, as in the case of Huawei, have seen their business diminish as never before as a result.
Xiaomi officially leaves the list
In a statement, Xiaomi has announced the verdict on the litigation they had with the United States Department of Defense, which has been resolved in a favorable way for their interests.
In this statement Xiaomi announces that the designation of the company as CCMC has been withdrawnShort for “Chinese Communist Military Company.” The statement reads the following:
«Xiaomi is pleased to announce that, on May 25, 2021 at 4:09 pm (EST), the United States District Court for the District of Columbia issued a final order nullifying the designation of the United States Department of Defense. of the Company as a “Chinese Communist Military Company” (CCMC). With the annulment of this designation, the court proceeded to formally lift all restrictions on US citizens to buy or dispose of Company securities«.
Therefore Xiaomi will be able to operate normally again in the United States and with US companies. The veto to which the Asian company had been subjected did not allow US citizens to buy or dispose of securities in the company, thus limiting a part of the company’s operations in relation to one of the most important markets at an international level. .
Back to normal
In this way, any type of doubt about its activity with US companies stops flying over Xiaomi, and more importantly, the possibility that the veto could go to more disappears and it will entail the imposition of tougher sanctions like those that one of its rivals in China, the Huawei firm, continues to endure. This is still within the group of Chinese companies that do consider themselves as military and communist. Something that has led these companies to stay out of the top global smartphone manufacturers, when it became the second largest manufacturer.
A position that now stalks Xiaomi, what is achieving record financial results, not only in China, but also in international markets. Something that certifies a great change in the balance of weights between the manufacturers that sell the most worldwide, with Xiaomi as the company that grows the most. A Chinese firm that recently celebrated the opening of its 100th store in Europe, and which already has 60 points of sale in Spain.