Steps came from the Chinese administration for the sale of TikTok, which has been on the agenda in recent months. Thanks to the changes made, it was stated that while the sales of the social media application were paved for the US operations, it was stated that the approval was required for the sale to take place. Thanks to the change in the rules, it became possible to export TikTok from China to the USA.
Due to previous sanctions, the sales condition was sought for TikTok to operate in the USA. After that, the names of leading companies such as Microsoft started to be mentioned with the social media application.
Rule change in China for TikTok sales
Beijing administration will also play an active role in the acquisition of TikTok’s US operations by a US company, according to new reports, based on Chinese executives. The restrictions and prohibitions previously imposed on the sales of technological companies and systems were removed. The Chinese government will now receive applications for certain sales. As a result of these applications, the products approved will be exported.
One of the major obstacles in China for the sale of TikTok was thus removed. Because it is categorized as a special product in terms of its application state. Because the export of the discover algorithm system used in the system was prohibited. Only with the approval of the trade applications to be made to the governorships, the sale will be possible.
Currently, Microsoft, Oracle and Walmart stand out for the social media application. It is expected that the information about which company will be sold in the coming days.