U.S. Government Agrees to Remove Xiaomi from Communist Chinese Military Company List; American Exchanges Delist Others
By EsqSocial Corporation 17/05/21
On May 11, 2021, the U.S. Department of Defense (DOD) agreed to remove Chinese smartphone maker Xiaomi Corp. from its list of “Communist Chinese Military Companies” (CCMC). DOD identified Xiaomi as a CCMC on January 14, 2021, pursuant to Section 1237 of the 1999 National Defense Authorization Act (NDAA). As a result of the CCMC designation, Xiaomi would have been prohibited from selling securities to U.S. investors under Executive Order (EO) 13959, “Addressing the Threat from Securities...
By: Wiley Rein LLP