Pentagon Adds Xiaomi to U.S. Investment Blacklist
Xiaomi Corp. (XIACF) and eight other businesses have been added to a list of companies that the U.S. Department of Defense
says aid
Xiaomi's (XIACF) inclusion on the Pentagon's list of "Communist Chinese military companies" means that it will be covered by an executive order issued in November by President Trump that blocks new U.S. investment in blacklisted companies or in funds that hold them.
Earlier this week, The Wall Street Journal reported that the U.S. government was expected to let Americans continue to invest in Chinese technology giants Alibaba Group Holding Ltd. (BABA) and Tencent Holdings Ltd., after weighing their potential addition to the blacklist, but was set to add nine other companies.
Xiaomi's (XIACF) American depositary receipts, which trade in the over-the-counter markets, fell 7.5% on Thursday. The
company's
The investment ban already covered 35 groups, and the Treasury Department has said it will add company subsidiaries to
the list. As well as Xiaomi (XIACF), Thursday's additions included
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