US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.
Huawei is losing its status as a smartphone powerhouse in 2021, with a smartphone shipment forecast putting it in seventh place among global vendors.
The startup also sued Tencent for patent infringement, demanding RMB 80 million for using patented technology in Tencent’s mapping service.
Meituan cuts back on mobile power bank rentals while bringing back a ride-hailing app, as market leader Didi faces a cybersecurity review.
China tech has suffered from Trump’s tech war, but the country’s tech watchers aren’t celebrating the start of the Biden administration.