China urges lawful, balanced TikTok deal solutions

China hopes companies will find solutions that comply with Chinese laws and balance all parties’ interests in the handover of TikTok’s U.S. operations, a commerce ministry spokesperson said Thursday.

TikTok’s Chinese owner, ByteDance, recently signed binding agreements to transfer control of its U.S. operations to a group of investors, including Oracle. The move aims to prevent a U.S. ban and resolve years of uncertainty over the app’s future, News.Az reports, citing Reuters.

Spokesperson He Yongqian emphasized that the U.S. should work with China to fulfill commitments and provide a fair, open, transparent, and non-discriminatory business environment to ensure the stable operation of Chinese companies in the United States.

News.Az