U.S. DOD puts Xiaomi in Chinese military blacklist

The Trump administration has recently added nine Chinese firms to a blacklist of alleged Chinese military companies, which includes Xiaomi.

The U.S. Department of Defense has added nine Chinese companies, including Xiaomi Corporation, to its list of “Communist Chinese military companies”, which triggers Trump’s Executive Order (effective January 11, 2021) that prevents U.S. investors from investing in the listed companies by November 11, 2021.

Here are the Chinese companies listed by the U.S. DOD (Tranche 5):
• Advanced Micro-Fabrication Equipment Inc. (AMEC)
• Luokong Technology Corporation (LKCO)
• Xiaomi Corporation
• Beijing Zhongguancun Development Investment Center
• GOWIN Semiconductor Corp
• Grand China Air Co. Ltd. (GCAC)
• Global Tone Communication Technology Co. Ltd. (GTCOM)
• China National Aviation Holding Co. Ltd. (CNAH)
• Commercial Aircraft Corporation of China, Ltd. (COMAC)

Do note that this blacklist is different from the U.S. Department of Commerce’s “Entity List”, which prevents U.S. companies from working with companies in its blacklist — the list where Huawei and DJI are currently in.

What this means is that Xiaomi may continue to do business with U.S. companies, but it will affect its financial standing once American investors divest their holdings.

via: Reuters

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Source: Yugatech