China will need to approve ByteDance's proposed deal with Oracle Corp for its TikTok app, the Chinese company said on Thursday, indicating how its bid to stave off a ban in the United States could be further complicated.
BEIJING - China will need to approve ByteDance’s proposed deal with Oracle Corp for its TikTok app, the Chinese company said on Thursday, indicating how its bid to stave off a ban in the United States could be further complicated.Oracle has submitted a proposal to the Trump administration that will allow it to become a technology partner in the TikTok app, as ByteDance hopes to head off a Trump order that it divest TikTok’s U.S. operations.But U.S.
An outright sale of TikTok’s operations or technologies was not included in ByteDance’s proposal to the United States, Chinese state media reported on Thursday citing a separate statement from the company.When asked about ByteDance’s comments regarding the need for China’s approval, the foreign ministry on Thursday urged the United States to respect the principles of the market economy and fair competition, and to stop politicising normal economic and trade cooperation.
Reuters has reported that the Oracle deal would not require ByteDance to apply to Chinese authorities for an export licence for TikTok’s algorithm.
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