Of China (Comac). According to an executive order signed by Trump last November, U.S. investors will have to divest their stakes in Chinese companies on the military list in November of this year.
Xiaomi did not immediately respond to a request for comment.
Xiaomi Corp. overtook Apple Inc. as the world’s No. 3 smartphone maker by sales in the third quarter of 2020, according to data by Gartner. Xiaomi’s market share has grown as Huawei’s sales have suffered after the U.S. blocked it and its smartphones were cut off from essential services from Google.
Separately, the Commerce Department put China National Offshore Oil Corp. (CNOOC) on the entity list and economic blocklist that forbids U.S. firms from exporting or transferring technology with the companies named unless permission has been obtained from the U.S. government. The move comes after about 60 Chinese companies were added to the list in December, including drone maker DJI and semiconductor firm SMIC.