New tech export controls could give Beijing a say in TikTok sale

People are seen at the Bytedance Technology booth at the Digital China Exhibition in Fuzhou, Fujian province, China. (Reuters/File)
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Updated 31 August 2020
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New tech export controls could give Beijing a say in TikTok sale

  • China has revised a list of technologies that are banned or restricted for export for the first time in 12 years

SHANGHAI: China’s new rules around tech exports mean ByteDance’s sale of TikTok’s US operations could need Beijing’s approval, a Chinese trade expert told state media, a requirement that would complicate the forced and politically charged divestment.

ByteDance has been ordered by President Donald Trump to divest short video app TikTok in the United States amid security concerns over the personal data it handles. Microsoft Corp. and Oracle Corp. are among the suitors for the assets, which also includes TikTok’s Canada, New Zealand and Australia operations.

However, China late on Friday revised a list of technologies that are banned or restricted for export for the first time in 12 years. Cui Fan, a professor of international trade at the University of International Business and Economics in Beijing, said the changes would apply to TikTok.

“If ByteDance plans to export related technologies, it should go through the licensing procedures,” Cui said in an interview with Xinhua published on Saturday.

China’s Ministry of Commerce added 23 items — including technologies such as personal information push services based on data analysis and artificial intelligence interactive interface technology — to the restricted list.

It can take up to 30 days to obtain preliminary approval to export the technology.

“We are studying the new regulations that were released Friday. As with any cross-border transaction, we will follow the applicable laws, which in this case include those of the United States and China,” ByteDance general counsel Erich Andersen said.

TikTok’s secret weapon is believed to be its recommendation engine that keeps users glued to their screens. This engine, or algorithm, powers TikTok’s “For You” page, which recommends the next video to watch based on an analysis of your behavior.

Cui noted that ByteDance’s development overseas had relied on its domestic technology that provided the core algorithm and said the company may need to transfer software codes or usage rights to the new owner of TikTok from China to overseas.

“Therefore, it is recommended that ByteDance seriously studies the adjusted catalogue and carefully considers whether it is necessary to suspend” negotiations on a sale, he added.

China’s Foreign Ministry has said it opposes the executive orders Trump has placed on TikTok and that Beijing will defend the legitimate rights and interests of Chinese businesses.


Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

Updated 02 February 2026
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Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.

The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.

The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.

The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.

The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.

Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.

On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.

Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.

On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.

In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”

The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.

“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.

RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.