China's new rules around tech exports mean ByteDance's sale of TikTok's US operations could need Beijing's approval, a Chinese trade expert told state media, a requirement that would complicate the forced and politically charged divestment.
ByteDance has been ordered by President Donald Trump to divest short video app TikTok - which is challenging the order - in the United States amid security concerns over the personal data it handles. Microsoft and Oracle are among the suitors for the assets, which also includes TikTok's Canada, New Zealand and Australia operations.
However, China late on Friday revised a list of technologies that are banned or restricted for export for the first time in 12 years and Cui Fan, a professor of international trade at the University of International Business and Economics in Beijing, said the changes would apply to TikTok. "If ByteDance plans to export related technologies, it should go through the licensing procedures," Mr Cui said in an interview with Xinhua published on Saturday.
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Source: The Straits Times - 🏆 8. / 63 Read more »