JAKARTA - The Chinese government has expressed respect for US President Donald Trump's decision to approve the sale of TikTok operations in the US to local investors, so that the application from China can continue to operate in the country.
"We respect the company's related decisions, and hope that business negotiations according to market rules will produce solutions that comply with Chinese law and benefit both parties," said Chinese Foreign Ministry spokesman Guo Jiakun at a press conference in Beijing, quoted by Antara, Saturday, September 27.
The day before, Trump signed an executive order approving the sale of TikTok to US investors. The order gives ByteDance, owner of TikTok, 120 days to complete the divestment process.
Guo also emphasized the importance of the US providing a fair and non-discriminatory investment environment for Chinese companies.
Trump's approval comes after the plan to ban TikTok for national security reasons that were scheduled to take effect last January but were delayed several times.
"We have US investors who will take over and manage TikTok," Trump said after signing the order.
He added that the joint venture would involve four to five major investors, including Oracle Corp, who are said to play an important role in security and technology management.
"We have very good control," Trump said, naming Larry Ellison (founder of the Oracle), Rupert total (owner of News Corp), and Michael Dell (container of Dell Technologies).
The executive order said ByteDance could only have a maximum of 20 percent of shares in the joint venture, and new entities would control TikTok's content algorithms and moderation.
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The White House said Oracle would act as a security provider for TikTok in the US and independently guarantee its entire operations.
Trump also said Chinese President Xi Jinping had agreed to the deal over a recent phone conversation.
Vice President JD Vance said the value of the joint venture in TikTok in the US reached US$14 billion or around Rp234.7 trillion.
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