Last updated on May 1st, 2023 at 08:02 pm
New China Export Control Rules May Delay TikTok Deal By 30 Days
At the end of last week, the Chinese authorities amended the existing export control rules. Now, software algorithms of a certain type belong to those assets, the transfer of which outside the PRC needs to be coordinated in a special order. This jeopardizes the timely execution of the deal with TikTok, which, at the request of the United States, must sell its local assets in a short time.