An important claim has been made for TikTok, the social media application that has had a difficult time due to the pressure on it recently. The Beijing government’s new rules on the export system mean ByteDance can rely on government approval to put TikTok’s US operations on sale, the Chinese trade expert told the state channel. This seems to create a new development in TikTok sales strategy.
TikTok may rely on Beijing government for sales
The Chinese firm ByteDance had decided to dispose of TikTok, which was planned to be banned by US President Donald Trump due to the security of personal data and national concerns. Many companies such as Microsoft and Oracle had applied for the decision covering the sale of the company’s rights in countries such as the USA, Canada, New Zealand and Austria.
According to the news of Gadgets360, China, which took a decision on technology companies whose exports were banned and restricted on Friday, added TikTok to the said changes. Speaking to the Xinhua news agency, Cui Fan, a professor of Beijing International Business and Economics University, said, “If ByteDance plans to export these technologies, it must first pass the licensing procedures.”
On the other hand, Cui mentioned that In case ByteDance makes an overseas sale, it must also transfer software codes and usage rights. For this reason, he added that ByteDance should examine the regulated procedure seriously and be careful in negotiations regarding the sale.
While there was no statement from ByteDance yet, there were signals from the Beijing front that Trump’s decisions were opposed and that the rights of Chinese companies would be defended.