GERMANY XIAOMI SHARES BLACKLIST

Shares of China's smartphone maker Xiaomi tumble after US investment ban

epa08939867 The logo of Chinese smartphone maker Xiaomi is seen at the company’s store in the city center of Duesseldorf, Germany, 15 January 2021. Chinese smartphone maker Xiaomi is the latest to be added to the Trump administration’s military blacklist. On Thursday, the Department of Defense added nine companies to its list of alleged Chinese military companies, including Xiaomi. The Beijing-based company’s stock dropped 10.3 per cent in Hong Kong trading on 15 January 2021, hours after the Pentagon added it to a list of companies with suspected ties to the Chinese military. That, in conjunction with a separate executive order, will block US investors from buying its shares 60 days from now and will require Americans to eventually sell their holdings. Xiaomi was the world’s third-largest smartphone maker as of Q3 last year, coming ahead of Apple and trailing behind Samsung and Huawei, according to market researcher IDC. EPA/SASCHA STEINBACH

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