The new information claims that FTSE Russell will remove the Chinese tech giant, Xiaomi from the global index and it will be effective from March 12. Meanwhile, as of now, Xiaomi has not received any reply yet.
FTSE Russell is a leading global provider of benchmarks, analytics, and data solutions with multi-
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Moreover, a couple of months ago, the Trump administration (U.S government) blacklisted nine Chinese companies including Xiaomi for their alleged connections with the Chinese military.
According to the relevant investment ban, US investors can no longer invest in those nine companies. They are required to sell their shares in “blacklisted” companies before November 11 this year.
Moving forward, in January this year, RTSE Russell said, in accordance with an executive order of the US government, three Chinese telecom operators were removed from the global index.
