China.- The Chinese Communist Party is taking aggressive steps to protect its tech industry in response to the Trump administration’s measures to protect U.S. tech companies and consumers from Chinese espionage and data collection. The Chinese Communist Party says it has the right to block the sale of technology abroad after Beijing enacted new export restrictions that could affect the sale of TikTok’s U.S. operations, according to a Report on Thursday.
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President Trump threatened to ban TikTok in the U.S. By November unless Beijing-based ByteDance, its owner, sells to an American company. Companies looking to devour ByteDance’s operations include Microsoft, Walmart, and Oracle.
It is known that Microsoft is also involved in the sale of the app. Afp
But the Chinese Ministry of Commerce put an obstacle in the way of sale last week when it added 23 items to a list of technologies that require Beijing’s approval, including artificial intelligence and algorithms that are critical to the modern video service of TikTok.Gao Feng, spokesperson for the Ministry of Commerce, said the new regulations are not aimed at specific companies.” If related companies are transferring technology abroad during trade, investment, or technical cooperation governed by regulations, they are encouraged to consult department of commerce offices immediately at the provincial level and handle it in accordance with the law,” he said during an online briefing. Bloomberg News reported Thursday.
TikTok will also have to compete with other apps like Instagram Reels. Afp
But ByteDance founder Zhang Yiming is now weighing his options and can use Beijing’s involvement to delay any deal, according to the report. At the same time, China plans to increase its semiconductor industry nationwide by increasing research, education, and funding for the industry, to counter restrictions imposed by the Trump administration, Bloomberg reported.
China’s President Xi Jinping has shown his stance against Trump’s as long as Tik Tok’s sale has stagnated. Afp
China, which imports more than $300 billion into integrated circuits each year, relies on U.S.-made chip design tools and patents in its semiconductor sector. But the U.S. government. It has prevented dozens of Chinese companies from buying pieces from U.S. companies, including ByteDance and Tencent, the company that owns WeChat.Relations between Washington and Beijing have deteriorated by the coronavirus pandemic, China’s treatment of pro-democracy protesters in Hong Kong, and trade policies that Trump says take advantage of American companies. You may be interested: 21-year-old pretends to be 14 to enter a school in GeorgiaDescube an unpublished black hole thanks to gravitational wavesS petroleum gas in Venezuela could sink and trigger an environmental disaster
