Xiaomi’s shares saw a jump on March 25 as a U.S. judge transiently removed restrictions imposed by the former president Donald Trump. The U.S. district judge Rudolph Contreras lifted the embargo issued by the Trump administration. He said the Chinese company would be hammered if aids are left out. There’s no evidence to prove Xiaomi is a CCMC, he added.
Listed as a “Communist Chinese military company” (CCMC), the smartphone producer was banned from investments. Xiaomi initiated a lawsuit, saying that the company was not then under control of China’s military force.
Delighted with his order, Xiaomi in a statement announced it will ask for completely removing the company from the blacklist.
It also declared the company, with no military intentions, is publicly and independently controlled to serve its consumers.