New export rules in China may prevent the sale of TikTok to the United States

The sale of the American social network unit may TikTok require the consent of the Chinese government. This was announced by a professor at the University of International Business and Economics in Beijing, Cui Fan, to Xinhua. The Chinese government updated the export control rules on August 28. The new rules complicate the export of a number of technologies, including those used to work the system of personal recommendations on social networks. Cui Fan, a professor at the University of International Business and Economics in Beijing, noted that these rules could affect the ByteDance company involved in the negotiations on the sale of the American division of the TikTok social network. Cui Fang added that ByteDance may need to suspend negotiations in order to obtain an appropriate license. American experts agree with this opinion. Scott Kennedy, senior adviser at the Washington Center for Strategic and International Studies, told The New York Times that the Chinese government can use the new rules both to completely block the deal and to accept it on special terms. At least they [the PRC government] blur their muscles, showing that they are not going to remain outside observers, Kennedy emphasized. As previously reported by the news agency, in August, US President Donald Trump signed a decree banning the financial activities of ByteDance in the United States. To continue the operation of the social network in the United States, ByteDance was forced to sell the American division TikTok one of the local companies.
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