News Snapshot:
U.S. Government Agrees to Remove Xiaomi from Communist Chinese Military Company List; American Exchanges Delist Others May 14, 2021 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 Investments that Finance Communist...
