The Chinese government would like to see companies reach solutions that comply with Chinese laws and regulations and balance the interests of all parties, a commerce ministry spokesperson said on Thursday when asked about the hand-over of TikTok’s US operations.

TikTok’s Chinese owner, ByteDance, last week signed binding agreements to hand control of the short video app’s US operations to a group of investors, including Oracle, in a big step toward avoiding a US ban and ending years of uncertainty.

"It is hoped that the US side will work with China in the same direction, earnestly fulfill its corresponding commitments, provide a fair, open, transparent and non-discriminatory business environment for the continuous and stable operation of Chinese enterprises in the US," spokesperson He Yongqian told a press conference.