The Ministry of Commerce responds to TikTok's plan to establish a joint venture in the U.S.: hopes that the company will reach a solution that complies with Chinese laws and regulations and balances interests

On December 25th, He Yongqian, spokesperson for the Ministry of Commerce, responded to questions regarding TikTok's establishment of a joint venture in the U.S., stating that the Chinese government hopes companies can reach solutions that comply with Chinese laws and regulations while balancing interests. During a routine press conference held by the Ministry of Commerce that day, a reporter asked: According to reports, TikTok has signed agreements with three investors and will establish a new TikTok U.S. joint venture to ensure its continued operation in the U.S. What is the spokesperson's comment on this? He Yongqian made the above response. He Yongqian stated that to implement the important consensus reached during the call between the leaders of China and the U.S., the economic and trade teams of both sides had previously reached a basic framework consensus on properly resolving issues such as TikTok through cooperation, based on mutual respect and equal consultation. He hopes that the U.S. side will work with the Chinese side to earnestly fulfill corresponding commitments, provide a fair, open, transparent, and non-discriminatory business environment for Chinese enterprises to operate continuously and stably in the U.S., and promote the stable, healthy, and sustainable development of China-U.S. economic and trade relations