The Xiaomi Mi Box supports 4K on TV's like the LG 4K Ultra HD Smart TV with webOS 2.0 (2015) or the Vizio M-Series 4K Ultra HD Smart TV
On the Vizio TV, the Mi Box automatically shows up in 4K resolution.
However, of some 4K TV's like those from LG don't automatically show up as 4K.
To manually change to 4K resolution, you will need to go to the Mi Box display and sounds settings.
Once in the display and sounds settings, change the resolution to 1080P60HZ to any of the 4K resolutions like 4096*2160.
Once changed you can see the 4K resolutions show up on the LG TV.
Unfortunately there isn't much 4K content available yet on the Xiaomi Mi Box. Once available, make sure the Mi Box is showing up in 4K resolution on your 4K TV since the TV may not always show the highest resolution possible from the Mi Box.