China says it hopes firms seek lawful, balanced solutions over TikTok deal

The Chinese government would like to see companies reach solutions that comply with Chinese laws and regulations and balance the interests of all parties, a commerce ministry spokesperson said on Thursday when asked about the hand-over of TikTok’s U.S. operations.

TikTok’s Chinese owner, ByteDance, last week signed binding agreements to hand control of the short video app’s U.S. operations to a group of investors, including Oracle, in a big step toward avoiding a U.S. ban and ending years of uncertainty.

“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 told a press conference.

Source: Reuters

--Agencies