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As Microsoft joined forces with Walmart to try to acquire TikTok, the Chinese Communist Party (CCP) suddenly adjusted its policy on technology export restrictions. According to the new restriction, ByteDance must be granted permission by Beijing to sell TikTok in the U.S. This has contributed uncertain aspects to the case.
On the night of August 30, ByteDance released a statement saying that it will strictly abide by the new rules when handling business related to technology exports.
He Liangmao, the co-founder of Media Analytica, indicated that the CCP deliberately blocked the acquisition of TikTok by a U.S. company for fear that some shadowy core data would be discovered by the United States.
Previously, the Trump administration demanded ByteDance to sell TikTok to American companies or choose to be banned in the United States over national security concerns. As of now, Microsoft, Oracle Corporation, and Walmart have expressed their interest in acquiring TikTok.
According to The Financial Times, insiders who are close to the TikTok sale negotiations said that ByteDance may quickly reach an agreement with U.S. companies but any deal will likely be opposed by the CCP. Insiders also said that longer time will now be needed to assess any deal after the new export control restrictions.
Chinese-Australian TV News Anchor Arrested by Chinese Regime
A Chinese Australian news anchor at CGTN, the international arm of the Chinese regime’s state broadcaster, has been detained in Beijing amid testy relations between Canberra and Beijing.
Australian foreign minister Marise Payne confirmed the arrest of Cheng Lei, a Chinese-born, naturalized Australian citizen and host of a business show that airs on the Chinese state-owned network. According to a ministry statement released on August 31, Beijing notified the Australian government of Cheng’s detention more than two weeks ago.
The statement reads: “Australian officials had an initial consular visit with Ms. Cheng at a detention facility via video link on 27 August and will continue to provide assistance and support to her and her family.”
The foreign minister said the department wouldn’t provide further comment, “owing to the Government’s privacy obligations.” Chinese authorities haven’t explained why Cheng was arrested.
Cheng, 49, is the second Chinese Australian detained by Chinese authorities since 2019, as bilateral tensions escalated over issues such as trade, Beijing’s tightening control on Hong Kong, and the Chinese regime’s handling of the CCP virus outbreak.
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