"China's position on the TikTok issue is clear: The Chinese government respects the wishes of the company in question, and would be happy to see productive commercial negotiations in keeping with market rules lead to a solution that complies with China's laws and regulations and takes into account the interests of both sides, says China's official readout of the call, which was posted on the website of China's Ministry of Foreign Affairs."
"The deal being proposed by the Trump administration involves Oracle, Silver Lake, and Andreessen Horowitz leading a group of investors to take a roughly 80 percent stake in TikTok's US operation, according to The Wall Street Journal. Oracle, which has worked closely with TikTok since 2020, would continue to store US user data on its domestic servers. The new, US-controlled entity would use licensed technology from ByteDance, TikTok's Chinese parent company, to create a similar content recommendation algorithm to the one TikTok currently employs."
US and China may have reached an agreement to prevent TikTok from being banned in the United States following a call between US President Donald Trump and Chinese President Xi Jinping. China’s official statement framed its stance as respecting company wishes and preferring commercial negotiations that comply with Chinese law and consider both sides’ interests. The proposed deal would have Oracle, Silver Lake, and Andreessen Horowitz lead investors to acquire roughly 80 percent of TikTok’s US operations, with Oracle storing US user data domestically. The new US-controlled entity would license ByteDance technology to recreate TikTok’s recommendation algorithm. Significant details and Chinese confirmation remain unresolved, including control over data and the algorithm.
Read at WIRED
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