Chinese Xiaomi Corp. She stated that yesterday, the US court officially abolished the definition of its business as the “Chinese Communist Military Company (CCMC)”. In addition, all restrictions were removed for US citizens to buy and possession of its shares.
It is difficult to overestimate the importance of decisions of American justice for Xiaomi. An example of what losses can incur business due to US sanctions, is Huawei, which is now closed the most important regional markets.
«District Court of County Colombia issued a final decision that cancels the definition of Xiaomi by the US Department of Defense as CCMC, “the manufacturer of smartphones and other electronics told the materials transferred by the Hong Kong Stock Exchange. According to the company, the decision on the case was taken on Tuesday.
«The company reiterates that it is open, transparent, exposed to public bidding, regardless of the current and manageable business, “said Lei Jun Chairman of the Board of Directors of Xiaomi Lei Jun.
Xiaomi sanctions were introduced by the US Department of Defense at the beginning of the year during the reign of President Donald Trump (Donald Trump). In March, the American court temporarily allowed cooperation with the company, and in the first half of this month, the US military stated that the exclusion of business from the sanctions list would be “appropriate.”