China and the US have reached a basic framework consensus on the correct solution to the TikTok problem

Chinese and US trade teams held talks in Madrid. Chinese Vice Foreign Minister Li Chenggang said the two sides reached a basic framework consensus on properly addressing the TikTok issue in a joint manner, reducing investment barriers and promoting economic and trade cooperation.

Regarding TikTok, Li said China is always against politicization, instrumentalization and weaponization of technology and trade issues and will never try to reach an agreement at the expense of principled stand, corporate interests and international justice. The Chinese side will firmly protect national interests and the legitimate rights and interests of Chinese enterprises, carry out technology export approval in accordance with the law and regulations. At the same time, the Chinese government fully respects the will of enterprises and supports enterprises in equal trade negotiations based on market principles.

Li Chenggang said that through the discussion of the TikTok issue, both sides further realized the importance of stabilizing healthy Sino-US trade relations. The teams of the two sides will continue to communicate closely, consult on the details of relevant final documents and fulfill national approval procedures.

Li also noted that China has noticed that after a series of trade and economic consultations, the U.S. continues to expand sanctions against Chinese entities. The U.S. general national security side, constantly expanding the list of sanctions against Chinese entities, the long arm of jurisdiction is getting longer, which is typical of unilateral bullying, is contrary to the basic principles of international law and international relations. The Chinese side is firmly opposed to this, and expressed serious concerns to the US side during the negotiations.

Li Chenggang stressed that the results of economic and trade negotiations between China and the United States have not been easy, that the United States cannot allow China to worry about American concerns on the one hand and continue to suppress Chinese enterprises on the other. The Chinese side calls on the United States to correct mistakes, remove these restrictions as soon as possible, act against China, and jointly protect the results of hard-won Sino-US trade consultations and promote the healthy, stable and sustainable development of bilateral trade relations.

CMG