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China Affirms Right to Approve Tech Deals as TikTok Sale Looms

  • Ministry says new rules aren’t targeted at any company
  • The assertion jeopardizes negotiations to buy TikTok U.S.
Bloomberg business news
ByteDance Needs Chinese Approval to Sell TikTok

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China emphasized its right Thursday to approve or block the sale of technology abroad, confirming it will play a critical role in the sale of TikTok’s U.S. operations to suitors including Microsoft Corp. and Oracle Corp.