China said it hopes businesses will look for legal, fair solutions regarding the TikTok purchase
A spokesman for China’s commerce ministry stated Thursday that when asked about the transfer of TikTok’s U.S. operations, the Chinese government wants businesses to come up with solutions that balance the interests of all parties and adhere to Chinese laws and regulations.
In a significant step toward averting a U.S. ban and putting an end to years of uncertainty, TikTok’s Chinese owner, ByteDance, this week inked legally binding agreements to transfer control of the short video app’s U.S. operations to a consortium of investors, including Oracle.
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“It is hoped that the U.S. side will work with China in the same direction, earnestly fulfill its corresponding commitments, provide a fair, open, transparent and non-discriminatory business environment for the continuous and stable operation of Chinese enterprises in the U.S.,” spokesperson He Yongqian said at a press conference.
