/ world today news/ The removal of the Chinese smartphone manufacturer Xiaomi Corp from the US Department of Defense’s blacklist is an additional indicator that the US government’s sanctions against Chinese companies are unjustified, experts say.
“The removal shows that the restrictions imposed by the US government on Chinese companies are not justified or are politically motivated,” said Wang Peng, an associate professor at the Hillhouse Research Institute of Renmin University of China in Beijing.
“In the global market, the fair market order cannot be violated for biased political reasons. Cooperation and win-win results always outweigh possible losses on the world stage,” Wang said.
The comments came as a joint status report filed Tuesday in a US court said Xiaomi and the US Department of Defense had agreed to settle a dispute over the company’s listing of “Communist Chinese military companies”. The two sides are negotiating specific terms before submitting a separate joint proposal before May 20.
Xiaomi declined to comment on the issue when contacted by China Daily.
Earlier this year, Xiaomi and eight other Chinese companies were blacklisted by the US government for alleged ties to the Chinese military, which would see it delisted from US exchanges and removed from global benchmarks. Xiaomi sued the US Department of Defense and Treasury in January.
In March, U.S. District Judge Rudolph Contreras temporarily suspended the restrictions, saying the U.S. move was “arbitrary and capricious” and did not allow the firm to defend its rights due process.
Gao Feng, a spokesman for China’s Ministry of Commerce, said Thursday that China has always believed that lifting sanctions against Chinese companies would benefit China, the United States and the rest of the world.
“The removal from the blacklist has boosted Xiaomi’s confidence to further expand its overseas business and will contribute to more cost-effective and high-quality electronic products for consumers,” said Ding Jihua, a compliance expert at the China Council for the Promotion of International trade.
A report by consultancy Counterpoint shows that in the first quarter, Xiaomi took 35 percent of the total smartphone market in Spain, surpassing South Korean giant Samsung and American tech giant Apple, which respectively accounted for 34 percent and 14 percent of the market.
Globally, it has become the third largest smartphone brand after Samsung and Apple. Xiaomi said global smartphone shipments rose 62% in the first quarter of this year to 49 million units.
“Chinese companies should also strengthen compliance management to protect themselves in this way so that they can move forward steadily on the road of globalization against global economic and political uncertainty,” Ding said.
Translation: ES
#China #Daily #Xiaomi #sees #bright #future #world #removed #blacklist
