TikTok Examination of tie-up agreement with US company Expected to proceed in China on September 24, 12:43
Regarding the world-famous video sharing app "TikTok", it is expected that Chinese IT companies will also review the agreement to partner with American companies in China.
However, differences in perceptions of the agreement between the US and Chinese companies have surfaced, and it is expected that there will be some twists and turns before the final settlement.
Over TikTok, the Trump administration in the United States ordered the sale of its US business, saying that the personal information of users could be misused by the Chinese government, and ByteDance, a Chinese company that operates in response to this, is a major software company Oracle We have agreed to cooperate with such companies.
In connection with this, ByteDance announced on the 24th that it has submitted an application to Chinese authorities regarding the overseas transfer of advanced technology.
The application seems to be about the draft agreement, and it is expected that the authorities will be examined in China following the United States.
The draft agreement is to set up a new company to handle the TikTok business in the United States and other countries, and will be invested by Oracle and Wal-Mart, a major retailer.
However, over the control of the new company, while Oracle and others say that American companies will invest a majority, ByteDance will become a subsidiary that owns 80%, and the difference in recognition has surfaced.
For this reason, it is expected that there will be some twists and turns before the final settlement, including the examination by the authorities of both the United States and China.