Caixin China Biz Roundup: Microsoft’s Bid to Buy Tiktok’s U.S. Operations Fails

In today’s episode: which U.S. company – if any – will be taking over the Bytedance app’s American assets?; a growing number of luxury brands are tailoring their products to suit China’s palate as the country’s demand for such lavish goods continues to boom; and how foreign entities will be allowed to own as much as 50% of VPN joint ventures