On Wednesday morning BST, Chinese smartphone giant Xiaomi Corp (1810:Hong Kong) announced in a filing to the Hong Kong bourse that the company was formally removed from the U.S. blacklist, and released from the U.S. securities ban.

The announcement stated that at 4:09 p.m. EDT on May 25, 2021, the U.S. District Court for the District of Columbia issued a final order vacating the U.S. Department of Defense's designation of Xiaomi as a Communist Chinese Military Company (CCMC).

In vacating the designation, the court formally lifting all restrictions on U.S. investors from purchasing or holding the company's securities.