Around two weeks ago a list of nine companies were added to a blacklist by the US Department of Defence (DoD) for the alligation that the companies supposedly operated by the Chinese army. Xiaomi, famous tech giant was also in that list. Xiaomi now lodged a formal complaint against the Decision, alleging it was “indeed incorrect” and is attempting to overturn it subsequently.
Incorporating US investors into the blacklist forces them to sell/dissolve their holdings and shares in the company. It is also prohibited to invest in the future. Xiaomi can still do business with US firms, but it still blows Xiaomi seriously as the decision also damages their public perception among their business partners and consumers. Their public perception.
Xiaomi has lodged a formal complaint against the US DoD, which calls the “unlawful and unconstitutional” decision and which claims that the company is not under Chinese military control. The initial decision was taken by the former US administration of Trump, which hopes that it will reverse the decision until Xiaomi will be irreparably harmed by the current Biden administration.