Court documents show that the US Department of Defense will remove China’s Xiaomi from the Chinese government’s blacklist, paving the way for future US investment in the smartphone manufacturer.
Court documents said the parties would agree to resolve existing litigation without further disputes, thus ending the brief and controversial dispute between the company and Washington.
Xiaomi did not immediately respond to Reuters’ request for comment.
Earlier this year, the US Department of Defense under the leadership of the Trump administration announced that the company was affiliated with the Chinese military and was included in the list of blocking US investment in the company.
Xiaomi responded quickly and filed a lawsuit against the U.S. government, calling this treatment “unlawful and unconstitutional” and denying any connection with the Chinese military.
In March, under Biden’s management, a federal judge temporarily blocked the activation of the blacklist.
As news of this decision spread, Xiaomi’s share price rose 6% in Hong Kong.