China's Ministry of Commerce spokesperson He Yongqian Photo: Yin Yeping/GT

Commenting on reports that TikTok has signed a deal with three investors and plans to establish a joint venture in the US, He Yongqian, spokesperson for China's Ministry of Commerce, said at a regular press briefing on Thursday that the Chinese government hopes companies can reach solutions that comply with Chinese laws and regulations and reflect a balanced consideration of interests.

He said that, in order to implement the important consensus reached during the phone call between the two heads of state, the economic and trade teams of the two sides previously reached a basic framework consensus on properly resolving issues such as TikTok through cooperation, based on mutual respect and equal consultation.

The spokesperson expressed the hope that the US side will work with China in the same direction, earnestly fulfill its relevant commitments, provide a fair, open, transparent and non-discriminatory business environment for Chinese companies to maintain stable operations in the US, and promote the steady, sound and sustainable development of China-US economic and trade relations.

Global Times