One of the world’s largest smartphone makers, China’s Xiaomi, has filed a lawsuit in a US court, urging the government to remove it from a blacklist of companies allegedly linked to the Chinese military while denying such connections.
Xiaomi demanded he be removed from the list on Friday, telling a Washington, DC district court that the decision to put him there was “Illegal and unconstitutional”, . reported. He insisted that he had no connection with the People’s Liberation Army, stressing a “Substantial number” US citizens who own significant stakes in the company, with US financial companies making up three of its top 10 investors.
The company was blacklisted along with eight other companies last month in the closing days of the Donald Trump administration, which forced all U.S. investors to withdraw their money from companies before the November 11, 2021 deadline.
Addressed to US President Joe Biden’s candidates to lead the Pentagon and the Treasury, Lloyd Austin and Janet Yellen, the complaint also said the investment ban would result in “Immediate and irreparable damage to Xiaomi.”
“The company’s strategic relationships with US financial institutions – essential for Xiaomi to continue to access the capital it needs to continue to grow in a highly competitive market – will be significantly affected,” the court record said.
“Additionally, Xiaomi’s public association with the Chinese military will significantly affect the company’s reputation with business partners and consumers, causing reputational damage that cannot be easily quantified or repaired.”
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