Washington: (Web Desk) The protracted and politically charged saga surrounding the ownership of the widely popular short-video platform TikTok has reached a critical juncture, with the announcement that the Chinese government has formally sanctioned the transfer agreement. This significant development, confirmed by U.S. Treasury Secretary Scott Bassett, signals a major de-escalation in a high-stakes bilateral trade and technology dispute between the world’s two largest economies. The approval paves the way for the platform’s U.S. operations to transition into the hands of American investors, a move designed to address national security concerns raised by the Trump administration.
Confirmation from the U.S. Treasury
U.S. Treasury Secretary Scott Bassett, a central figure in the negotiations, provided unequivocal confirmation of China’s consent. Speaking during an interview on Fox Business Network’s Mornings with Maria, Bassett articulated the finality of the agreement reached with Beijing, suggesting that the intricate ownership restructuring could now advance towards completion.
The announcement came shortly after a high-profile meeting between U.S. President Donald Trump and Chinese President Xi Jinping, highlighting the political gravitas required to conclude the deal. Bassett’s statement underscored a positive trajectory for the resolution of the matter.
“In Kuala Lumpur, we finalized the TikTok agreement, securing Chinese approval. I expect it to move forward in the coming weeks and months, eventually reaching a full resolution,” Secretary Bassett stated, marking a decisive end to the speculation surrounding Beijing’s position.
This statement is particularly crucial as it indicates a diplomatic success, where a complex corporate restructuring involving sensitive data and technology ownership was successfully negotiated at the governmental level. The location of the finalisation—Kuala Lumpur—suggests that neutral territory may have been chosen for the final, critical diplomatic exchanges.
The Chinese Perspective: Cooperation and Constructive Resolution
Simultaneously, the Chinese Ministry of Commerce provided its own confirmation, signalling a cooperative stance towards resolving the contentious issue. The Ministry’s communication emphasised a commitment to handling TikTok-related affairs appropriately and in continued collaboration with their U.S. counterparts.
A spokesperson for the Ministry of Commerce further stressed the diplomatic approach being employed by both governments. The use of specific, collaborative language in the official statement highlights an effort to portray the outcome as a mutually acceptable resolution rather than a concession.
The ministry spokesperson added that both sides are working together to resolve the issues surrounding the app “in a fair and constructive manner.”
The Chinese government’s official approval was the final critical step required, allowing the transfer to proceed under the framework established by the U.S. executive order. The agreement had been pending China’s formal sanction, given that the transfer involved sensitive intellectual property and data governance structures integral to a globally operating Chinese technology company. The consensus reached signifies a reciprocal willingness to accommodate national security demands while preserving the operational continuity of the application.
The Executive Order and the Financial Framework
The foundations of this major shift were solidified on September 25, when President Donald Trump signed an executive order formalising the proposed transition. This action was integral to a larger financial and structural commitment involving approximately $14 billion, which will facilitate the transfer of TikTok’s U.S. operations to a consortium of American investors.
The successful securing of Chinese approval was met with direct commendation from the U.S. side toward the Chinese Head of State. President Trump publicly praised his counterpart for his involvement and cooperation in the finalisation of the accord.
President Trump commended Chinese President Xi Jinping for his “excellent cooperation” and “leadership” in approving the deal.
Furthermore, a critical dimension of the agreement addresses the long-standing concerns regarding data integrity and security, which formed the core justification for the initial executive order. The U.S. Vice President specifically addressed the future functionality of the platform under American ownership, reassuring the public and lawmakers that the new structure removes any residual risks.
Meanwhile, the U.S. Vice President emphasized that the app will no longer be used for propaganda, adding that “TikTok is now safe for American users.”
This emphasis on security and propaganda underscores that the primary driver for the U.S. administration was not merely the transfer of assets, but the guarantee of a secure digital environment for American users, ensuring the app complies with strict data and content standards under its new American majority ownership. The full resolution of the deal is expected to be a key marker in the evolution of technological sovereignty and cross-border digital commerce.
conclusion
The confirmation of China’s approval for the TikTok transfer agreement marks a significant and historic moment in global technology governance, transforming a complex geopolitical flashpoint into a framework for constructive cooperation. The deal, which facilitates the transition of TikTok’s U.S. operations to American investors, successfully navigates sensitive issues of national security, data privacy, and technological sovereignty. With the formal go-ahead secured, attention now shifts to the complex technical and corporate steps required to implement the $14 billion agreement over the coming months. This breakthrough sets a notable precedent for how the United States and China can negotiate the future of global digital platforms, reinforcing that even the most contentious technology disputes can be resolved through high-level diplomatic engagement.
