| The Chinese government has no golden share or ownership in TikTok’s parent company, Bytedance Ltd. As is required under Chinese law, in order to operate certain news and information products that are offered exclusively in China, media licenses are required for those services. As such, an entity affiliated with the Chinese government owns 1% of a Douyin subsidiary, Douyin Information Service Co., Ltd. This is a common arrangement for companies operating news and information platforms in China. This arrangement is specific to services in the Chinese market, and has no bearing on ByteDance’s global operations outside of China, including TikTok, which does not operate in mainland China. |
