BEIJING: China will need to approve ByteDance's proposed deal with Oracle Corp for its TikTok app, the Chinese company said on Thursday, indicating how its bid to stave off a ban in the United States could be further complicated.
But U.S. President Donald Trump on Wednesday raised questions about ByteDance's plans to keep a majority stake in TikTok's U.S. operations and said he did not favor the idea of the Chinese firm retaining control, after six Republican lawmakers urged him to reject the proposal. An outright sale of TikTok's operations or technologies was not included in ByteDance's proposal to the United States, Chinese state media reported on Thursday citing a separate statement from the company.When asked about ByteDance's comments regarding the need for China's approval, the foreign ministry on Thursday urged the United States to respect the principles of the market economy and fair competition, and to stop politicising normal economic and trade cooperation.
Reuters has reported that the Oracle deal would not require ByteDance to apply to Chinese authorities for an export licence for TikTok's algorithm.
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