To close US deal, TikTok's owner applies for Chinese license
By Team Newsable | First Published Sep 24, 2020, 6:19 PM ISTThe video service is a security risk because the personal information of its millions of US users could be handed over to Chinese authorities, the White House said.
Beijing: On September 24, TikTok's owner said it has applied for a Chinese technology export license. The owner said it is trying to complete a deal with Oracle and Walmart to keep the popular video app operating in the United States.
Last month, Beijing tightened control over technology exports in an effort to gain leverage over Washington's attempt to force an outright sale of TikTok to US owners.
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According to reports, the White House says the video service is a security risk because the personal information of its millions of US users could be handed over to Chinese authorities.
President Donald Trump said this week he would approve a proposed deal in which Oracle Corp and Walmart Inc could initially own a combined 20% of a new US entity, TikTok Global.
Trump said Oracle must have "total control". ByteDance said it applied to the Beijing Municipal Bureau of Commerce for an export license and was awaiting a reply.
The one-sentence statement gave no other details.
The report added that the Chinese authorities have not indicated whether they will agree to a transfer of technology.
But official newspapers criticised the proposed deal this week as bullying and extortion.
The newspaper China Daily on Wednesday said that China has no reason to green light such a deal, which is dirty and unfair.
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