It seems like Xiaomi will attend this year's Mobile World Congress (MWC) in China, which was not the case last year, and it's even possible that the company may announce its new flagship in Barcelona. Mobile World Congress' official website confirms that Xiaomi will attend the tradeshow, and it even reveals where exactly will the company be located, Hall 6 Stand 6B30, as you can see in the provided image down below.
Having said that, the Xiaomi Mi 5 was announced by Hugo Barra back in 2016 at the Mobile World Congress (MWC) in Barcelona, while the Xiaomi Mi 6 launched in April last year in a separate event organized by the company. This year, however, Xiaomi may, once again, attend MWC and do the same thing it did with the Mi 5. Now, MWC's listing only confirms that Xiaomi will be there, nothing else, so it's still possible that Xiaomi may wait until MWC is over, and announce the phone during a separate event, of course. Lei Jun, Xiaomi's CEO, did hint that the phone will arrive in the first half of the year, though that doesn't say much. It was also confirmed, recently, that the Mi 7 will be fueled by the Snapdragon 845, which is Qualcomm's newest processor, and it's also the most powerful chip this company released to date. Earlier today, a render of the alleged Xiaomi Mi 7 leaked, though it's still unknown whether that render is real or not, as we've seen quite a few fake ones thus far.
The Xiaomi Mi 7 is expected to ship with wireless charging, as the company already confirmed that, and Xiaomi joined WPC (Wireless Power Consortium) a while back. That probably means that the phone will ship with a glass back, and if rumors and leaks are to be believed, the device will also sport a dual camera setup on the back, and a rear-facing fingerprint scanner. The Xiaomi Mi 7's bezels are expected to be considerably thinner than bezels on the Xiaomi Mi 6, and the phone will probably ship with at least 6GB of RAM. It is still unknown what size will the device's display be, but it's possible that Xiaomi may opt to announce both the regular Mi 7 model, and also the rumored Mi 7 Plus.