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
Singapore-Based E-Commerce Aggregator Una Brands Raises $40 Million for Asia-Pacific Acquisitions
Video Streamer iQiyi Apologizes for Milk Gimmick Gone Sour
Singaporean Ride-Hailing Firm Grab to Launch New Services for Premium Passengers, Pet Owners
TikTok Retains Crown as World’s Top Non-Game App Despite 50% Drop in Downloads
Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Spoiler Alert as Beijing Potentially Blocks Sale of TikTok’s U.S. Business

By Yang Ge / Sep 01, 2020 06:02 PM / Politics & Law

A potential new spanner has been thrown into TikTok’s clock as the popular video sharing app counts down to the highly anticipated sale of its U.S. assets.

TikTok has been under constant assault for much of this year by U.S. lawmakers who say its owner, ByteDance, could be forced to give over its pool of data on millions of U.S. users to Beijing due to its status as a Chinese company beholden to the government. ByteDance has argued TikTok is based offshore and therefore not subject to Chinese law.

But U.S. president Donald Trump wasn’t buying that argument, and last month ordered ByteDance to sell the app’s U.S. operations within 90 days. ByteDance was making plans to do just that, with most reports pointing to a two-way bidding competition between a partnership of software giant Microsoft and retail giant Walmart on one side, and a bid led by rival software maker Oracle on the other.

But a new update to China’s technology export restrictions posted last Friday could now mean the pending sale may require Chinese government approval. According to the update, software of the type that makes TikTok tick must now get a government nod before export.

ByteDance says it has been studying the addition to the export restriction list. Meantime, Cui Fan, a professor at the University of International Business and Economics, has told the official Xinhua news agency that for TikTok to continue operating smoothly after a sale, ByteDance will need to either license or sell its core algorithm services to the buyer. That would constitute an export of technical services, which would require government approval.

To read the full article, click here.

Contact reporter Yang Ge (geyang@caixin.com)


Share this article
Open WeChat and scan the QR code