China Approved TikTok Sale: Who Will Become the New Owner of the Social Network.

According to inkorr.com: U.S. Treasury Secretary Scott Bessent reported that China has approved the agreement to transfer TikTok's asset rights to American investors. Under this agreement, the new enterprise that will own the application will primarily belong to American users, while ByteDance's stake will decrease to less than 20%, according to national security legislation requirements.

'In Kuala Lumpur, we finalized the agreement regarding TikTok in terms of obtaining China's approval, and I expect it to be implemented in the coming weeks and months, and we will finally see a resolution to this issue,' Bessent noted.

The Ministry of Commerce of China confirmed that the issue regarding TikTok will be resolved in cooperation with the United States. ByteDance was granted another 75 days to finalize the agreement following Trump’s order, which has repeatedly postponed deadlines due to China's response to American tariffs. There was also mention of agreements with Chinese leader Xi Jinping regarding Ukraine after their meeting.

Thus, China has approved the agreement to transfer TikTok's asset rights to American investors, reducing ByteDance's stake to less than 20%. The agreement is expected to be implemented in the coming weeks, with Trump's order allowing 75 days for its completion. The U.S. has repeatedly postponed deadlines due to trade disputes between the countries.

This agreement could signify an important step in relations between China and the U.S., especially in the context of technological disputes. It also opens new opportunities for American investors in the technology sector, promising to enhance stability and trust in the market.