China's Xiaomi Corp (1810.HK) said on Wednesday a U.S. court has removed the company's designation as a Communist Chinese Military Company (CCMC) and lifted all restrictions on U.S. persons buying or holding its stock.
"The U.S. District Court for the District of Columbia issued a final order vacating the U.S. Department of Defense's designation of the company as a CCMC," the smartphone maker said in a filing to the Hong Kong bourse. It said the order was made on Tuesday.
"The company reiterates that it is an open, transparent, publicly-traded, independently operated and managed corporation," Xiaomi chairman Lei Jun said in the statement.
A court filing showed earlier in May that the U.S Defense Department would remove Xiaomi from a government blacklist, marking a reversal by the Biden administration of one of Donald Trump's last jabs at Beijing before exiting the office.
Source: Reuters
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