The new export rules could potentially allow China to block the sale of TikTok to a US company.
China has updated its export control rules to require certain technology companies to gain licensing approval if they wish to sell technology to an American buyer, adding yet another wrinkle to the potential sale of TikTok’s US operations. According to a New York Times report, the country’s official Xinhua news agency also published commentary which said TikTok’s parent company, ByteDance, could be required to gain a licence if it is to sell the technology to a US company. The updated export rules reportedly add 23 items, including technologies such as personal information push services and artificial intelligence interactive interface technology, to the list of technologies that require licensing approval. The changes to China’s export rules come less than a week after Kevin Mayar, TikTok’s former CEO, said in his resignation letter to staff that the company was expecting “to reach a resolution very soon”.
