ISTANBUL

China said Thursday that it hopes companies can reach solutions that comply with Chinese laws and regulations and reflect a "balanced consideration" of interests following a deal to put TikTok's ‌US operations into US hands.

Commerce Ministry spokesperson He Yongqian told a press briefing that to implement the "important consensus" reached during a phone call between the two heads of state, the two sides’ economic and trade teams previously reached a basic framework consensus on properly resolving issues such as TikTok through cooperation based on mutual respect and equal consultation.

She expressed hope that the US will work with China in the same direction, sincerely fulfill its pertinent obligations, offer a "fair, open, transparent, and nondiscriminatory" business environment for Chinese companies to maintain stable operations in the US, and support the "steady, sound, and sustainable" development of bilateral trade and economic ties.

Last week, TikTok signed an agreement to sell its American operations to a new American-led joint venture, which includes tech giant Oracle, in a move to secure the app’s future in the US.

The transaction came in response to a US law passed last year requiring ByteDance, TikTok’s Chinese parent company, to divest 80% of its US assets or face a nationwide ban.