{"id":21861,"date":"2021-02-01T20:45:40","date_gmt":"2021-02-01T20:45:40","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=21861"},"modified":"2021-02-01T20:45:40","modified_gmt":"2021-02-01T20:45:40","slug":"chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban","title":{"rendered":"China’s Xiaomi files legal complaint against USD efense, Treasury ban"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Xiaomi Corp filed a complaint in a Washington district court on Friday against the U.S. Defense and Treasury Departments, seeking to remove the Chinese smartphone maker from an official list of companies with ties to China\u2019s military.<\/p>\n

The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other companies to the list, which requires American investors to divest their holdings in the firms by a set deadline.<\/p>\n

In the complaint, addressed to Biden-appointed Defense Secretary Lloyd Austin and Treasury Secretary Janet Yellen, Xiaomi called the judgment \u201cunlawful and unconstitutional\u201d and said the company was not controlled by the People\u2019s Liberation army.<\/p>\n

It added that the investment restrictions, which go into effect on March 15, 2020, would cause \u201cimmediate and irreparable harm to Xiaomi.\u201d<\/p>\n

Xiaomi said 75 per cent of the company\u2019s voting rights, under a weighted structure, were held by co-founders Lin Bin and Lei Jun, with no ownership or control from an individual or entity affiliated with the military.<\/p>\n

It added that a \u201csubstantial number\u201d of its shareholders were U.S. persons, and noted three of its top-ten holders of ordinary shares were U.S. institutional investment groups.<\/p>\n

\u201cThe company\u2019s strategic relationships with U.S. financial<\/p>\n

institutions – critical for Xiaomi to continue to access the capital it needs to continue to grow in a highly competitive market – will be significantly damaged,\u201d the complaint stated.<\/p>\n

\u201cMoreover, the public association of Xiaomi with the Chinese military will significantly impair the company\u2019s standing with business partners and consumers, causing reputational harms that cannot be readily quantified or easily repaired.\u201d<\/p>\n

The U.S. Department of Defense and the Treasury Department did not immediately respond to requests for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Xiaomi Corp filed a complaint in a Washington district court on Friday against the U.S. Defense and Treasury Departments, seeking to remove the Chinese smartphone maker from an official list of companies with ties to China\u2019s military. The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other companies to the […]<\/p>\n","protected":false},"author":84,"featured_media":21862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9],"tags":[6354,1227,7297],"class_list":["post-21861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-joe-biden","tag-us","tag-xiomi"],"yoast_head":"\nChina's Xiaomi files legal complaint against USD efense, Treasury ban - kenya<\/title>\n<meta name=\"description\" content=\"Xiaomi Corp filed a complaint in a Washington district court on Friday against the U.S. Defense and Treasury Departments, seeking to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China's Xiaomi files legal complaint against USD efense, Treasury ban\" \/>\n<meta property=\"og:description\" content=\"Xiaomi Corp filed a complaint in a Washington district court on Friday against the U.S. Defense and Treasury Departments, seeking to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-01T20:45:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/chinas_xiaomi_files6017f7bc3b95a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"613\" \/>\n\t<meta property=\"og:image:height\" content=\"289\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"China’s Xiaomi files legal complaint against USD efense, Treasury ban\",\"datePublished\":\"2021-02-01T20:45:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\"},\"wordCount\":295,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/chinas_xiaomi_files6017f7bc3b95a.jpg\",\"keywords\":[\"Joe Biden\",\"US\",\"Xiomi\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/miscellaneous\/chinas-xiaomi-files-legal-complaint-against-usd-efense-treasury-ban\",\"name\":\"China's Xiaomi files legal complaint against USD efense, Treasury ban - 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