Caixin Global – Latest China News & Headlines

Home >


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.

Trending in China: The View from China on U.S. Presidential Election Debate Antics
Trending in China: Disneyland Shanghai Hotel Prices Rocket to Over $1,000 a Night
Chinese Bitcoin Mining Machine Maker Ebang Establishes Canadian Subsidiary
Trending in China: Team Effort VS Individualism - What is the Message Behind Box Office Smash Hit Volleyball Movie Leap?
Tencent Leads Over $100m Funding in Pet Clinic Operator New Ruipeng
Watch Out Alipay and WeChat, Is Getting Into Online Payments
Search Engine Sogou Joins Exodus of Chinese Firms From Wall Street as Tencent Takes It Private
Huawei Showcases Smart Car Technologies at Beijing Auto Show
Trending in China: A David and Goliath Battle - Students Take on a Chinese Tech Giant and Win
Chinese Drug Manufacturer InventisBio Bags $147m Led by Hillhouse Capital
Profits of Weibo Soar Even as Revenue Falls
Chinese Electric Vehicle Startup Xpeng Receives Investment to Build Production Base in Guangzhou
Video Site Operator Mango Plans to Raise $660 Million to Expand Content Library
Chinese Biotech Firm Creative Biosciences Raises $88m From IDG, CDH, Others
Alibaba’s Ant Group Launches Blockchain-Based Platform to Streamline Cross-Border Trade
Trending in China: Mission Impossible? Young Environmental Hero Tries To Clean Up Tibet
Chinese Online Travel Agency Sees Revenue Plummet As Covid-19 Fallout Lingers
Chinese Supply Chain Provider Xingyun Closes $200m in a Series C Round
Chinese EV Charging Operator Star Charge Nabs $125m Co-Led by Schneider, CICC
Trending in China: One of China’s Weirder Poverty Alleviation Programs Goes Viral with 100m Plus Views
Microsoft Said Plan to Acquire TikTok Will Continue

By Zhang Qi, Zhang Erchi and Mo Yelin / Aug 03, 2020 01:36 PM / Business & Tech

Microsoft confirmed for the first time it is seeking to acquire the U.S. operations of short-video app TikTok from China-based parent company ByteDance Ltd., saying it will go ahead with the plan, despite reservations from U.S. President Donald Trump.

Following a conversation between Microsoft CEO Satya Nadella and President Trump, Microsoft is prepared to continue discussions to explore the purchase of TikTok activities in the U.S., as well as in Canada, Australia, and New Zealand, the U.S. software giant said in a statement on Sunday.

“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” the statement said.

Microsoft said it will move quickly to pursue discussions with ByteDance that are expected to conclude by September 15. It said it would also continue discussions with the U.S. government and President Trump during the process.

The Microsoft announcement came after Trump earlier said it would ban TikTok from the U.S. “As far as TikTok is concerned, we’re banning them from the United States,” the president told reporters Friday night. When asked when it would happen, he said: “Soon, immediately. I mean essentially immediately.”

Read the full story on Caixin Global later.

Contact reporter Mo Yelin (

Related: Trump Says He Will Ban TikTok From Operating in U.S.

Share this article
Open WeChat and scan the QR code