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China has approved the transfer agreement for popular short video app TikTok, US Treasury Secretary Scott Bessent confirmed on Thursday. He said he expects progress in the coming weeks and months, but did not provide further details. The announcement follows President Donald Trump's meeting with Chinese leader Xi Jinping in Kuala Lumpur, where discussions on the agreement took place. In Kuala Lumpur, we finalized the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that, Bessent told Fox Business Network. Earlier on Thursday, China's Commerce Ministry issued a statement saying that it would properly handle all TikTok-related issues with the United States. The announcement comes amid ongoing negotiations between the two countries over the future of TikTok in America. The app has been under scrutiny due to national security concerns and its data privacy practices.
