Beijing, Mar 24 (FN Bureau) China strongly opposes potential US demands to sell TikTok as they may seriously undermine investor trust throughout the world, Chinese Commerce Ministry spokeswoman Shu Jueting said on Thursday. The Wall Street Journal reported, citing sources, that the White House had demanded that TikTok Chinese owners sell their share, otherwise the app could be blocked in the country. TikTok’s management reportedly discussed the possibility of separating from its Chinese parent company, ByteDance, to assuage the US authorities’ security concerns. “Forcing the sale of TikTok, which ignores the product and service itself and relies solely on the fact of [the presence of] foreign investment, will greatly undermine the trust of investors around the world, including China, who are investing in the US.
If these reports are true, then China strongly opposes,” Shu said.The official also noted that the sale of TikTok or its separation from its parent company is related to the issue of technology exports, therefore all relevant procedures must be carried out in accordance with Chinese law. “The Chinese government will make a decision that will comply with the law,” she said. Early in March, the US House Committee on Foreign Affairs approved a bill that will allow the US government to ban TikTok or any other foreign app if they are believed to be a threat to national security. US National Security Advisor Jake Sullivan praised the bill, saying that it could provide protection against “countries of concern in sensitive technology sectors. “On Thursday, the US House Energy and Commerce Committee held a hearing to hear testimony from TikTok CEO Shou Zi Chew, whom the lawmakers questioned about the platform’s data privacy practices and alleged ties to the Chinese government.