In the history of the Chinese company Xiaomi and the sanctions imposed on it by the US government, finally
What does it mean
Let us recall that in January the US Department of Defense introduced Xiaomiand 8 more Chinese companies are “blacklisted”, prohibiting American investors from investing money in them. The manufacturer went to court and won a temporary halt to the ban, and has now won a final victory.
“Xiaomi is pleased to announce that on May 25, 2021 at 4 p.m.:On 09 EST, the District Court for the District of Columbia issued a final order reversing the Department of Defense's designation of the company as the Chinese Communist Military Company (CCMC). By reversing the determination, the court officially lifted all restrictions on the ability of U.S. persons to purchase or hold the company's securities,” Xiaomi said.
It seems that the parties managed to peacefully resolve the dispute and come to a common solution, although the details were not specified.
“The company is grateful for the trust and support of itsto global users, partners, employees and shareholders. The company emphasizes once again that it is a public and independent corporation,” Xiaomi said in a statement.
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Statement to the Media Relating to the Final Order of the U.S. Court
Xiaomi ("Company") is pleased to announce,that on May 25, 2021, at 4:09 p.m. Eastern Time (EST), the District Court for the District of Columbia entered a final order reversing the Department of Defense's designation of the Company as a "Chinese Communist Military Company" (CCMC). By reversing the determination, the court formally removed all restrictions on the ability of U.S. persons to purchase or hold the Company's securities.
The company is grateful for the trust and support of itsglobal users, partners, employees and shareholders. The company emphasizes once again that it is a public and independent corporation. The company will continue to provide quality consumer electronics and services to its users by offering the best products at fair prices so that everyone in the world can enjoy a better life through innovative technology.