China urges lawful, balanced outcome on TikTok US deal

China said it hopes companies involved in the handover of TikTok’s US operations will reach solutions that comply with Chinese laws and regulations while balancing the interests of all parties, according to a statement from the country’s commerce ministry, as per a Reuters report.

Responding to questions on Thursday about the proposed restructuring of TikTok’s US business, commerce ministry spokesperson He Yongqian said China expects outcomes that are lawful and reasonable. The comments came after TikTok’s Chinese parent ByteDance last week signed binding agreements to transfer control of the short video app’s US operations to a group of investors, including Oracle, in a move aimed at avoiding a potential US ban and ending years of regulatory uncertainty.

He Yongqian said China hopes the US side will work with China in the same direction, fulfil its corresponding commitments, and provide a fair, open, transparent and non-discriminatory business environment to ensure the continuous and stable operation of Chinese enterprises in the United States, he informed a press conference.