The U.S. has agreed to remove Xiaomi from a blacklist that would have barred Americans from investing in the Chinese smartphone maker.
The US District Court for the District of Columbia on Tuesday issued a final order vacating the Department of Defense’s designation of Xiaomi as a Chinese military company.
“The company is grateful for the trust and support of its global users, partners, employees and shareholders. The company reiterates that it is an open, transparent, publicly traded, independently operated and managed corporation,” Xiaomi said in a statement.
Xiaomi said that it will continue to “provide reliable consumer electronics products and services to users, and to relentlessly build amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology”
Shares of Xiaomi rallied as much as 6.7% in Hong Kong trading Wednesday, while the spread on its 2030 dollar note narrowed 10 basis points to 177, the smallest since January.
