TikTok US transfer deal finalised after China’s approval

China has officially approved the long-delayed transfer agreement for TikTok, paving the way for the app’s sale to a consortium of US and global investors.

The confirmation came from US Treasury Secretary Scott Bessent, who revealed the breakthrough following President Donald Trump’s meeting with Chinese President Xi Jinping in Kuala Lumpur.

“In Kuala Lumpur, we finalised the TikTok agreement in terms of getting Chinese approval. I expect it to move forward in the coming weeks and months, we’ll finally see a resolution to that,” Bessent noted.

China’s Commerce Ministry also issued a statement earlier in the day, saying it would “properly handle TikTok-related issues” in cooperation with the United States.

The ByteDance-owned short-video platform has been at the centre of political and national security tensions for nearly two years.

The US Congress passed a law in 2024 ordering the parent company to sell TikTok’s US operations by January 2025, citing concerns about user data and Chinese government influence.

In late September, Trump signed an executive order declaring that the proposed sale met the national security standards outlined in the law.

The approval also marks a major milestone in one of the most closely watched tech disputes of recent years, potentially ending months of uncertainty for TikTok’s 170 million American users.