BEIJING, May 12th (TMTPOST) — Xiaomi and the U.S. government had reached an agreement that will remove the Chinese smartphone company from a U.S. government blacklist, according to a news report from Bloomberg on Wednesday, citing a court filing. This will reverse the Trump administration’s blacklisting on Xiaomi.
According to the court filing, the U.S. Department of Defense had agreed that it is proper to revoke the blacklisting.
Xiaomi’s share price at the Stock Exchange of Hong Kong rose 6.1% to HKD$26.1 as the closing. The share surge had set Xiaomi’s capitalization at HKD$657.9 billion.