China: We seek an agreement that takes into account everyone’s interests in transferring the management of TikTok to America
On Thursday, a spokeswoman for the Chinese Ministry of Commerce expressed her hope that a balance would be reached between the interests of American and Chinese companies regarding the transfer of management of the social media application. "TikTok" To the United States.
The spokeswoman, He Yongqian, said in a press conference: "We hope that the US side will work with China in the same direction, seriously fulfill its corresponding obligations, and provide a fair, open, transparent and non-discriminatory business environment for the continued and stable operation of Chinese companies in the United States.".
A company signed "ByteDance" Chinese owner of the application "Tik Tok"Last week, it signed binding agreements to hand over control of the app’s US operations to a group of investors, including… "oracle"in a major step towards avoiding the US embargo and ending years of conflict between the two major economies.
Press reports stated that Xu Zhu, CEO of TikTok, informed his employees that the social media company and its Chinese owner "ByteDance" They agreed to the new entity with the participation of companies "oracle" and"Silver Lake" And MGX"as major investors.
This arrangement comes in response to a law issued during the era of the former president Joe Biden forces a company "ByteDance" It has to sell TikTok’s US operations or risk being banned in its largest market.
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