China Intervenes in TikTok Deal

China Intervenes in TikTok Deal

With TikTok poised to sell its non-Chinese belongings to Microsoft or Oracle, China took actions to intervene in any deal.

Now, China current its export management rules.

“In accordance with the Foreign Trade Legislation of the People’s Republic of China and the Rules of the People’s Republic of China on the Administration of Engineering Imports and Exports, the Ministry of Commerce and the Ministry of Science and Engineering have produced partial adjustments to the contents of the China Listing of Prohibited Export Limited Export Technologies,” a translated version of the announcement reads. “It belongs to dual-use technological know-how and is integrated into export handle administration.”

The phrase “dual-use” refers to technologies that could have both civilian and military use. And amongst the variations is a listing of about 50 systems that China now considers far too delicate for sale outdoors of the nation, which include 1 that sounds a ton like TikTok’s suggestion assistance. If this is correct, then ByteDance, TikTok’s operator, would will need a license to promote this know-how to a U.S.-centered firm.

It is not crystal clear if China is generating the modify to block the sale of TikTok or to help dictate much better terms. And it’s probable that this final-moment intervention could frighten off Microsoft or Oracle, or at least slow down the acquisition approach, which seemed on the verge of culminating at any time.

Tagged with TikTok

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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