Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Pompeo Hints At ‘Broader’ Ban on Chinese Apps After Trump’s Executive Orders Targeting TikTok and WeChat
Trending in China: Merchants and Netizens Forced to Pick Sides in Fight Between Delivery Firms
Baidu-Backed Video Streamer iQiyi Probed by U.S. Regulator After Short Seller’s Report
AI Unicorn SenseTime Is Said to Mull Hong Kong, China IPO
Huawei Copies Korean Rivals by Manufacturing Own Display Driver Integrated Chips
JOYY’s Livestreaming Revenue Up 40% in Second Quarter of 2020
Trending in China: ‘Mukbangs’ Under Fire in China Amid High Level Food Waste Campaign
Trending in China: How Will the Chinese Diaspora Survive a WeChat Ban In U.S.?
Online Platform JD.com Buys into Bricks and Mortar Convenience Store Chain
China Unicom Profits Rise in First Half, Stock Soars
ByteDance in Talks with Indian Conglomerate Over TikTok Amid Layoff Fears
Alibaba’s Zhang Yong Tops 2020 Forbes China Best CEOs List
Trending: Family Feud Raises Big Questions Over Succession in China’s Multi-Million “Family” Businesses
Shanghai-Listed Foxconn Internet’s Cloud Service Sales Up 4% in First Half of 2020
U.S.-Listed Chinese Companies Nio and Huya Have Something to Cheer About
Apple Edges Huawei Out of No. 1 in Quarterly Tablet Shipments
Chinese Finance Platform Lufax Files for U.S. IPO of up to $3 Billion
China Mainland Leads U.S. in Fortune Global 500 Companies But Trails in Profitability
Trending in China: Tencent – Fighting Youth Unemployment or Enemy of Older Workers?
Tencent Pushes for Merger That Would Create $10 Billion Chinese Twitch
TikTok Leaving ByteDance Is ‘Better Solution Than Banning’, White House Adviser Says

By Ding Yi / Jul 17, 2020 05:19 PM / World

Photo: IC

Photo: IC

A top White House official has provided a possible option for embattled TikTok to avoid being banned in the U.S.: break away from its Chinese owner ByteDance and operate as an American company.

“We haven’t made final decision but ... I think TikTok is going to pull out of the holding company which is China-run and operate as an independent American company,” White House economic advisor Larry Kudlow told reporters on Thursday, according to a report by Reuters.

Kudlow declined to comment when asked if U.S. companies could acquire TikTok. But he said that getting independence from ByteDance could be “a much better solution than banning” the popular short-video service.

Kudlow’s remarks came after U.S. Secretary of State Mike Pompeo said earlier this month that the Trump administration was weighing its options over a possible ban of Chinese social media apps, including TikTok, over their possible relationship to the Chinese government and handling of user data.

TikTok has consistently denied allegations that it mishandles user data and acts on the behest of the Chinese government.

In order to ease the security and privacy concerns, TikTok has taken a litany of measures including hiring Walt Disney’s former streaming head Kevin Mayer as its new CEO. But the move failed to satisfy top U.S. officials like White House trade advisor Peter Navarro, who dubbed Mayer as an “American puppet” for working at a Chinese app.

On Wednesday, U.S. tech news provider The Information cited a ByteDance investor saying that in the face of growing U.S. oversight, the company was mulling plans to focus more on business in its home market by exploring opportunities in new sectors, and was trying to develop another hit app.

These new developments could be a blow to the confidence of ByteDance founder and CEO Zhang Yiming, who is focusing on building the company’s global management team as part of its overseas expansion plan.

Last week, a TikTok spokesman said in a statement that ByteDance was assessing corporate structure changes for its TikTok business, Reuters said.

Contact reporter Ding Yi (yiding@caixin.com)

Related: TikTok Fined $155,000 For Mishandling User Data in South Korea


Share this article
Open WeChat and scan the QR code