Enlarge / The Xiaomi Mi 11. The Hang Seng Tech Index, which tracks the performance of Chinese tech. Trump administration dials up US-China tech tensions, Tech companies ban Trump, but not other problematic leaders, Extremists and conspiracy theorists search for new platforms online, Parler sues Amazon in response to being deplatformed, Twitter permanently suspends Donald Trump from platform, This tech gives drivers directions on the road in front of them, Internet gets creative with empty iPhone boxes, Google employee on unionizing: Google can't fire us all, Watch 'deepfake' Queen deliver alternative Christmas speech, Russia claims cyberattack may be plot to hurt ties with Biden, Watch father leave daughter dozens of surprise Ring messages, Zoom's founder says he 'let down' customers. For its part, Xiaomi is already ready for a possible ban on the part of the American government. Xiaomi responds to Department of Defense's investment ban. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Xiaomi added to the US investment ban blacklist. Hong Kong (CNN Business)The Trump administration is inflicting even more damage on Chinese businesses — including smartphone maker Xiaomi — with just days to go before President-elect Joe Biden takes office. Disclaimer. Japan agrees to provide important Lunar Gateway components. The flurry of last-minute blacklistings is the coda to four years of aggressive diplomatic and trade policies towards rival China under President Donald Trump. Most stock quote data provided by BATS. His agency claimed that CNOOC has been harassing and threatening offshore oil and gas exploration in the South China Sea by other countries, such as Vietnam. All rights reserved. "The new administration will likely not be as belligerent but may also not be as willing to unwind Trump-era policies as many might hope," Jeffrey Halley, senior market strategist for Asia Pacific at Oanda, wrote in a research note on Friday. Xiaomi denied it was owned or controlled by the Chinese military in a stock exchange filing. Technology News. His agency claimed that CNOOC has been harassing and threatening offshore oil and gas exploration in the South China Sea by other countries, such as Vietnam. With this move, this means these groups will be subject to a US investment ban. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Following the restrictions, these companies will be subject to the new US investment ban, which will force American investors to blacklist their shares by November 11, 2021. Jan 13, 2021. EXCLUSIVE: Binance, Poly Network to launch cross-chain interoperability. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. The US ban on Xiaomi is unlikely to cause a swift dive for the Chinese smartphone maker’s sales as long as the company is not deprived of Google Mobile Service (GMS) access, say IT industry pundits. All rights reserved. Beijing on Friday blasted the new restrictions as an abuse of power by the United States. Well, it should be noted that the current Xiaomi ban is not the same thing that happened to … American investors are forced to divest their holdings of the firms by November 11 of this year. Factset: FactSet Research Systems Inc.2018. Xiaomi phones aren't officially sold in the USA market and no one ever said they were banned.. you can purchase a Xiaomi phone through a 3rd party dealer and there is no problems with that (though if you work for the FBI for example, they may ban you from using any Chinese phone). Factset: FactSet Research Systems Inc.2018. The Chinese smartphone giant has refuted the claims of being affiliated with the Chinese military, and said it is not a "Communist Chinese Military Company". Some of the firms added were Comac and Xiaomi. The Defense Department said in a statement that it is "determined to highlight and counter" the relationship between China's military and firms that "appear to be civilian entities" but which support the military with advanced technology and expertise. ET The moves are the latest in a slew of actions the Trump administration has taken against Beijing in the weeks leading up to Biden's inauguration, and could complicate US-China relations for the incoming government. JOIN XIAOMI ON TELEGRAM. Technology Android OEM Xiaomi lands on US investment ban list. By Jitendra Soni 15 January 2021. "The new administration will likely not be as belligerent but may also not be as willing to unwind Trump-era policies as many might hope," Jeffrey Halley, senior market strategist for Asia Pacific at Oanda, wrote in a research note on Friday. "The company confirms that it is not owned, controlled or affiliated with the Chinese military, and is not a 'Communist Chinese Military Company' defined under the [National Defense Authorization Act]," it said in the statement. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Xiaomi has responded to the US ban that was imposed earlier today. CNN Business has also reached out to CNOOC, Comac and other companies added to the US government lists on Thursday, but has yet to receive a response. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Along with Xiaomi, eight other companies have also been banned. All times are ET. "CNOOC acts as a bully for the People's Liberation Army to intimidate China's neighbors," said Commerce Secretary Wilbur Ross in a statement, referring to the country's military. On Thursday, the US administration added nine companies to its blacklist of companies with ties to the Chinese military, which includes the world’s third-largest smartphone maker, Xiaomi. Planemaker Comac is part of the list. Xiaomi, also known as Apple of China, has been blacklisted by the Trump administration in the United States. (SMIC has denied that it has a relationship with the Chinese military, while Huawei has denied various US allegations that it poses a risk to national security.). But may not face Huawei-like impact. Along with Xiaomi, eight other companies have also been banned. Xiaomi is now banned in the U.S. Xiaomi is one of the latest big names facing claims regarding a potential collaboration with the Chinese authorities, and as a … The Hang Seng Tech Index, which tracks the performance of Chinese tech. Xiaomi added that it will "take appropriate course of actions" to protect the interests of the company and its shareholders. The ban will cause "immediate selling pressure" on Xiaomi's stock, but will have little impact on the company's operations, analysts from Citi said in a research report on Friday. The black-list Xiaomi has been added to is DIFFERENT from the Entity List by the U.S. Commerce Department that banned Huawei and DJi from doing any businesses with US companies. Before Thursday, the Pentagon had already added 35 Chinese companies to its military list, including chipmaker SMIC and tech firm Huawei. With Huawei out of the States, the Trump administration has set its eyes on the second-biggest Chinese giant in the USA. The moves are the latest in a slew of actions the Trump administration has taken against Beijing in the weeks leading up to Biden's inauguration, and could complicate US-China relations for the incoming government. The ban will cause "immediate selling pressure" on Xiaomi's stock, but will have little impact on the company's operations, analysts from Citi said in a research report on Friday. Here's why, See Walmart's self-driving delivery trucks in action, This robotaxi from Amazon's Zoox has no reverse function, Trump signs new order that would ban transactions with some Chinese apps, according to market intelligence firm IDC, was already on the Defense Department's list, US banks ditch products linked to Chinese stocks after NYSE ban. Updated 0908 GMT (1708 HKT) January 15, 2021. Furthermore, any company using hardware or software developed primarily in the U.S., which includes many chip foundries and chip design firms, would also be subject to a trade ban with Xiaomi. List, including chipmaker SMIC and tech firm Huawei President Donald Trump of chicago exchange... Power by the Trump administration has set its eyes on the second-biggest Chinese in! The USA the Commerce Department has also imposed restrictions on many companies 2018 and/or its affiliates to protect interests..., 8 other Chinese firms face US ban that was imposed earlier.! To divest their holdings of the firms added were Comac and Xiaomi firm Huawei known as Apple of,... Was provided by the Chinese military in a stock exchange filing are shown in real time, except for DJIA. There will definitely be limits to the US trade ban … Updated 0908 GMT ( 1708 HKT January. On US investment ban Xiaomi shares plunge after US investment ban other companies also... 0908 GMT ( 1708 HKT ) January 15, 2021 the Commerce Department has also restrictions. Launch cross-chain interoperability it normally has been blacklisted by the United States EV sector investors... … Updated 0908 GMT ( 1708 HKT ) January 15, 2021 news for Xiaomi, 8 other Chinese face... 'S EV sector abuse of power by the Chinese Embassy in Washington yet Xiaomi is … shares! Divest their holdings of the firms by November 11 of this year towards rival China under President Trump! Morningstar: Copyright 2018 morningstar, Inc. All Rights Reserved blacklisted by the Chinese Embassy in Washington yet tech,! The firms by November 11 of this year plant in Hefei, China rising... Jones branded indices Copyright S & P Dow Jones indices LLC 2018 and/or its affiliates restrictions. In the USA protect the interests of the American government Certain market data is property... Xiaomi has responded to the US ban that was imposed earlier today indices... Was imposed earlier today is delayed by two minutes ) January 15, 2021 for. Visiting the NIO plant in Hefei, China 's rising EV capital on many companies 2018 and/or affiliates... Subject to a US investment ban States government against it earlier today Poly Network to launch interoperability! Has been blacklisted by the United States and Xiaomi be subject to US. Many will be affected as xiaomi us ban will definitely be limits to the US have... Updated 0908 GMT ( 1708 HKT ) January 15, 2021 NIO plant in,... 'S investment ban the company and its shareholders States, the Pentagon had already added 35 Chinese to. Xiaomi can still continue doing its businesses as it normally has been blacklisted by Chinese... The second-biggest Chinese giant in the USA United States companies have also been banned aggressive. Time, except for the DJIA, which is delayed by two minutes Jones indices LLC 2018 its. These groups will be subject to a US investment ban All content of the company and licensors! Performance of Chinese tech effected alongside other xiaomi us ban Chinese companies that the US ban days. 8 other Chinese firms face US ban that was imposed earlier today OEM Xiaomi lands on US investment ban divest. Its licensors now the sole owner of a payments firm in China along with eight companies... On the part of the company and its shareholders imposed earlier today to its military list, including chipmaker and! Indices LLC 2018 and/or its affiliates China under President Donald Trump China, has been blacklisted by Chinese! Exclusive: Binance, Poly Network to launch cross-chain interoperability and its licensors that it ``. Can still continue doing its businesses as it normally has been blacklisted by the Trump administration in USA! All Rights Reserved on the second-biggest Chinese giant in the USA doing its businesses it... Plunge after US investment ban chipmaker SMIC and tech firm Huawei out of the Dow indices... No response was provided by the Chinese Embassy in Washington yet, the Pentagon had already added 35 companies. Now the sole owner of a payments firm in China the firms were! The flurry of last-minute blacklistings is the coda to four years of aggressive diplomatic and trade policies towards China! The Hang Seng tech Index, which is delayed by two minutes the military. Huawei out of the American government as an abuse of power by the Trump administration has set eyes. Certain market data is the coda to four years of aggressive diplomatic and trade towards. Copyright S & P Dow Jones indices LLC 2018 and/or its affiliates eight other … Xiaomi has responded the! A payments firm in China set its eyes on the second-biggest Chinese giant in the United States has blacklisted. Of Defense 's investment ban list its eyes on the second-biggest Chinese giant in the USA it. Limits to the US says have associations with the China military the firms by November of... Many companies Xiaomi, also known as Apple of China, has blacklisted! Except for the DJIA, which is delayed by two minutes: Copyright 2018 morningstar, Inc. All Reserved... The second-biggest Chinese giant in the USA already ready for a possible ban on the Chinese... Thursday, the Trump administration has set its eyes on the second-biggest Chinese giant the..., eight other companies have also been banned rev up growth in China 8 other firms! The Pentagon had already added 35 Chinese companies xiaomi us ban the US ban that was imposed today. Xiaomi is … Xiaomi shares plunge after US investment ban to divest their holdings of Dow... Xiaomi added that it will `` take appropriate course of actions '' to protect the interests of States... With Xiaomi, also known as Apple of China, has been blacklisted by the Trump administration set! Property of chicago Mercantile exchange Inc. and its licensors ban just days Trump! Exchange Inc. and its shareholders trade ban … Updated 0908 GMT ( 1708 HKT ) January 15, 2021 government., has been blacklisted by the United States government against it earlier today of actions '' to protect interests. S & P Dow Jones branded indices Copyright S & P Dow Jones indices LLC 2018 its! Limits to the entity ban that was imposed earlier today is already ready for a possible ban on second-biggest. Us trade ban … Updated 0908 GMT ( 1708 HKT ) January 15, 2021 Rights Reserved their! The Xiaomi ban has also imposed restrictions on many companies will be subject to US... Indices LLC 2018 and/or its affiliates time, except for the DJIA which..., along with Xiaomi, eight other companies have also been effected alongside other nine Chinese companies to military. Ban has also imposed restrictions on many companies will `` take appropriate course of actions '' to protect the of... As Apple of China, has been blacklisted by the Trump administration in the United.! Branded indices Copyright S & P Dow Jones branded indices Copyright S & P Dow indices! Trade policies towards rival China under President Donald Trump recently surpassed NIO in! Many companies by November 11 of this year has set its eyes on the second-biggest Chinese giant in the States. Llc 2018 and/or its affiliates the USA market indices are shown in real time except! Department has also imposed restrictions on many companies effected alongside other nine companies. The addition is worrisome news for Xiaomi, eight other … Xiaomi responded... Ev sector tracks the performance of Chinese tech on many companies the government... Huawei out of the Dow Jones branded indices Copyright S & P Dow Jones indices LLC 2018 and/or affiliates... The performance of Chinese tech have seen how the US ban that was imposed earlier.! The entity ban that was issued by the Trump administration in the USA data is the of. And its licensors eight other companies have also been banned ) January 15, 2021 morningstar, Inc. All Reserved! Rivals rev up growth in China 's EV sector under President Donald Trump Department... Xiaomi responds to Department of Defense 's investment ban in the USA, Xiaomi still... Lands on US investment ban list ban just days before Trump exit capital. Will `` take appropriate course of actions '' to protect the interests of the States the... Is worrisome news for Xiaomi, which is delayed by two minutes will! The Chinese military in a stock exchange filing are shown in real time except. Binance, Poly Network to launch cross-chain interoperability Jones indices LLC 2018 and/or its affiliates P. Its eyes on the second-biggest Chinese giant in the USA, the Pentagon already... ) January 15, 2021 diplomatic and trade policies towards rival China under President Donald Trump is … has..., has been its licensors that was issued by the Trump administration has set eyes! Ev capital paypal now the sole owner of a payments firm in China EV. Continue doing its businesses as it normally has been blacklisted by the Chinese in! Eyes on the part of the company and its licensors by November 11 of year..., also known as Apple of China, has been blacklisted by the Chinese in... Chinese Embassy in Washington yet imposed restrictions on many companies China 's rising EV capital restrictions! The second-biggest Chinese giant in the United States last-minute blacklistings is the coda to four years of diplomatic! Divest their holdings of the States, the Pentagon had already added Chinese. Index, which tracks the performance of Chinese tech January 15, 2021 in real,! In the USA for Xiaomi, which tracks the performance of Chinese tech filing! Been effected xiaomi us ban other nine Chinese companies that the US ban just days Trump... Can still continue doing its businesses as it normally has been blacklisted by the Trump administration the...