Caixin
Company Index
Senate
Senate
NEWS
company-info
Uncertainty about the timing of Senate action on a bill that would ban TikTok in the U.S. adds to lack of visibility on the Chinese firm’s fate
Mar.27 2024 03:54 AM
company-info
ByteDance maintains it won’t be pressured to sell platform used by 170 million Americans
Mar.25 2024 06:59 AM
company-info
  • TikTok and its parent company ByteDance were caught off guard by a political storm from the U.S., which proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act" to potentially ban TikTok due to its Chinese company background. The bill passed the House with overwhelming support and is pending in the Senate, with President Biden indicating he would sign it into law.
  • Despite facing potential U.S. ban, TikTok has made significant strides in e-commerce through TikTok Shop, achieving nearly $1.2 billion in Gross Merchandise Value (GMV) within months of launching in the U.S., with projections reaching above $20 billion by 2024. However, if banned, TikTok might not be able to divest its assets as required within 180 days, leading to its removal from U.S. app stores.
  • The situation has sparked reactions from China's Ministry of Commerce and Foreign Ministry, criticizing the U.S. for suppressing foreign companies under the guise of national security without fair competition. Meanwhile, TikTok CEO Shou Zi Chew has been lobbying in Washington D.C., trying to negotiate a favorable outcome amidst growing bipartisan support for the app's ban due to concerns over data privacy and national security.
Mar.23 2024 18:47 PM
company-info
Bill, which wants TikTok’s links to ByteDance severed, now goes to the Senate before it can be signed into law
Mar.14 2024 01:46 AM
company-info
Measure would be similar to an executive order the Biden administration is considering that would impose new rules on tech investments
Jul.27 2023 04:32 AM
company-info
Kassym-Jomart Tokayev, whose predecessor ruled for nearly 30 years, is pushing constitutional reforms to take power out of the hands of the executive
Sep.23 2022 19:32 PM
company-info
U.S. lawmakers have stressed the national security implications of the legislation, saying it is vital to competing with China
Aug.10 2022 15:31 PM
company-info
The measure has been presented as both a way to reinvigorate the U.S. industrial base and fortify the country’s national security interests
Jul.28 2022 16:03 PM
company-info
Gina Raimondo made the comment while pushing for the passage of legislation to support domestic production of high-end semiconductors
Jul.22 2022 14:29 PM
company-info
Senators are still working out the details of the bill, a scaled-down version of the original and more expansive measure
Jul.20 2022 14:08 PM
company-info
Making it clear how U.S. dollar funds can continue to invest in Chinese companies can help the city’s stock market emerge from its sluggish state
Jan.29 2022 10:00 AM
company-info
MSCI Inc.’s gauge of Asian stocks falls more than 1% in early trading after the S&P 500 closed 2% lower overnight
Sep.29 2021 16:13 PM
company-info
The White House is considering whether to give Jerome Powell a second four-year term as chair of the Federal Reserve
Aug.30 2021 16:30 PM
company-info
If confirmed, the ex-CEO of Pure Digital Technologies will fill a position that has been vacant since early 2017
Jul.30 2021 15:44 PM
company-info
China’s factory-gate prices jump the most in almost 13 years. Hong Kong starts to explore a digital currency for everyday use
Jun.10 2021 09:20 AM
company-info
The 68-32 vote was a clear indicator of the concern in both political parties that the country risks falling behind its biggest global competitor
Jun.9 2021 14:41 PM
company-info
Chinese Foreign Ministry has urged the U.S. to abandon its "Cold War, zero-sum game mentality" and stop pressing ahead with the "negative bill that harms China’s interests and sovereignty"
Apr.10 2021 14:45 PM
company-info
Gina Raimondo lays out tough stance, calling Chinese telecom companies a ‘threat’ and China’s behavior ‘anti-competitive’ and ‘coercive’
Mar.6 2021 06:20 AM
company-info
The comments illustrate how Katherine Tai will pursue a hard line, while also indicating a more methodical and practical style
Feb.25 2021 14:24 PM
company-info
Leaders in the U.S. are making move to ensure domestic the semiconductor supply as overseas manufacturers dominate manufacturing
Feb.24 2021 15:57 PM