China responds to TikTok's new deal to form joint venture in the U.S.

China's Ministry of Commerce said on Thursday that the Chinese government hopes companies can reach resolutions that both comply with Chinese laws and reflect a balanced consideration of interests, when asked about TikTok establishing a joint venture in the United States.

He Yongqian, spokesperson for the ministry, was asked during the weekly press briefing to comment on recent reports that TikTok has signed agreements with three investors and will set up a new U.S. joint venture to ensure its continued operations in the United States.

She said that to implement the consensus reached during the phone call between the two heads of state, the economic and trade teams on both sides have reached basic framework agreements on properly solving issues, including TikTok's U.S. operations, through cooperation.

She expressed hope that the U.S. side would work in the same direction as China and earnestly fulfill its commitment to fostering a fair, open, transparent and non-discriminatory business environment for Chinese companies to operate stably and sustainably in the United States. She also shared China's hope for the U.S. to promote stable, healthy and sustainable development of China-U.S. economic and trade relations.