Xiaomi confirms US formally lifted securities ban

Chinese tech giant Xiaomi confirmed on Wednesday that a US court had removed the company’s designation as a Communist Chinese Military Company and had lifted the ban on it doing business in the country.

"The US 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 according to Reuters.

Xiaomi, which said that the order was made on Tuesday, added: "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, one of the few reversals made by the Biden administration of former President Donald Trump’s decisions on China.

The US government is still putting up a strong stance regarding trade with China.