China will need to approve ByteDance’s proposed deal with Oracle for its TicketLock app, the Chinese company said on Thursday, indicating how its bid to lift the ban in the United States could be further complicated.
The proposal envisages making Tickcock Global a US-headquartered company.
But the American president Donald Trump On Wednesday, questions were raised about Bytdance’s plans to hold a majority stake in Teaktok’s US operations and said they did not favor the Chinese firm’s idea of retaining control, with six Republican lawmakers urging it to reject the proposal.
Trump has said He will ban Tiktok in the United States early Sunday if ByteDance does not comply with American concerns that the company may pass user data to the Communist Party government of China.
The United States byteadance proposal did not include Tiktok’s operations or a direct sale of technologies, Chinese state media reported on Thursday, citing a separate statement from the company.
When asked by Reuters about this, ByteDance declined to comment.
When asked about ByteDance’s comments about the need for China’s approval, the Foreign Ministry on Thursday urged the United States to respect the principles of market economy and fair competition and to stop politicizing general economic and trade cooperation.
China updated it at the end of last month Export control rules TechTok’s user recommendation algorithm to say this on the transfer of technology to overseas buyers.
Reuters has reported that the Oracle deal will not require ByteDance to apply to Chinese authorities for an export license for Teutalk’s algorithm.
ByteDance and its founders Zhang Yiming After coming under pressure from the US to face public criticism in China, it was reported that it was considering selling TikTok’s US works. Microsoft. Some netizens said they would stop using Douyin, The Chinese version of Tektok’s BiteDance.
“BiteDance, as it works to find a solution to keep Tiktok’s American business alive, is walking a tightrope between the demands of the US government on the one hand and the expectations of both the Chinese government and the public on the other,” Mark Natkin Managing Director at Marbridge Consulting.
“It cannot afford to make any kind of disturbances along the way.”
© Thomson Reuters 2020
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