- Briefing Your roundup of Asian tech and startup news that matter
Doris Yu · · 1 min readUS bans Americans from investing in Xiaomi, other Chinese tech firms
The move comes after the US shelved plans to blacklist Chinese tech titan Alibaba, WeChat owner Tencent, and search engine Baidu.
Beijing-based Xiaomi makes smartphones, mobile apps, laptops, home appliances, bags, shoes, consumer electronics, among other products. It competes against Huawei for supremacy of China’s smartphone market.
Xiaomi is also gaining popularity in Europe and India, with its global smartphone sales surpassing Apple’s in the third quarter of 2020, according to a report from the International Data Corporation.
See also: The enigmatic tycoon guiding Oppo, Vivo, and Pinduoduo
Other US-blacklisted companies include Luokung Technology, Gowin Semiconductor, Global Tone Communication Technology, Advanced Micro-Fabrication Equipment, China National Offshore Oil Corporation, Skyrizon, Commercial Aircraft Corporation of China, Beijing Zhongguancun Development Investment Center, and Grand China Air.
The move will prevent US investors from buying securities of these Chinese firms, which are allegedly owned or controlled by the Chinese military.
Edited by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
