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U.S. Blacklisted China’s Xiaomi Because of Award Given to Its Founder
In a legal filing, the U.S. Department of Defense to blacklist Chinese company with military ties, Xiamo due to an award given to the company’s founder for his service to the state/
Lei Jun, the chief executive officer and founder of Xiaomi, received the award of “Outstanding Builder of Socialism with Chinese Characteristics” in 2019 from the Ministry of Industry and Information Technology.
he award was enough for the Defense Department in January to add Xiaomi to a list of companies that support China’s military.
The second reason cited by the Defense Department was Xiaomi’s plans to invest 50 billion yuan, equivalent to $7.7 billion, over five years into 5G technology and artificial intelligence.
Source: WSJ #Mar05
https://www.wsj.com/articles/u-s-blacklisted-chinas-xiaomi-because-of-award-given-to-its-founder-11614947281
#USBlacklistChineseCompany #Xiaomi #USBlacklist #China
In a legal filing, the U.S. Department of Defense to blacklist Chinese company with military ties, Xiamo due to an award given to the company’s founder for his service to the state/
Lei Jun, the chief executive officer and founder of Xiaomi, received the award of “Outstanding Builder of Socialism with Chinese Characteristics” in 2019 from the Ministry of Industry and Information Technology.
he award was enough for the Defense Department in January to add Xiaomi to a list of companies that support China’s military.
The second reason cited by the Defense Department was Xiaomi’s plans to invest 50 billion yuan, equivalent to $7.7 billion, over five years into 5G technology and artificial intelligence.
Source: WSJ #Mar05
https://www.wsj.com/articles/u-s-blacklisted-chinas-xiaomi-because-of-award-given-to-its-founder-11614947281
#USBlacklistChineseCompany #Xiaomi #USBlacklist #China