Tik-Tok owner ByteDance planning to move headquarters out of China

ByteDance, the Chinese Internet giant and owner of Tik-Tok, is planning to change its corporate structure, including moving its headquarter out of China. The company in a statement said that it will make a decision in the best interest of all stakeholders and policymakers. 59 Chinese apps, including Tik Tok, was banned in India by the government last month, citing threat to sovereignty, security, and public order. The USA is also considering a ban on Tik-Tok.  

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