Xiaomi isn’t losing time disputing the US’ determination to place it on a list of Chinese military-backed companies and ban American investments. Reuters reports the Chinese language cellphone large has filed a authorized grievance towards the US Protection and Treasury Departments, calling the funding ban “illegal and unconstitutional.” It additionally mentioned the claims of hyperlinks to the Chinese language army have been false, and {that a} lack of American investments would result in “rapid and irreparable hurt.”
The corporate mentioned 75 % of its voting rights belonged to co-founders Lin Bin and Lei Jun, and that there have been no military-linked individuals or organizations with possession. It additionally famous {that a} “substantial quantity” of shareholders have been Individuals, and that three of its most distinguished shareholders have been US funding teams.
