A similar executive order has also been issued for WeChat, a messaging and social media app owned by Chinese tech giant Tencent.
Wei Shangjin, professor of finance and economics at Columbia University's Graduate School of Business and School of International and Public Affairs, said forcing TikTok to be sold cheaply to a "very American" buyer will endanger many U.S. firms in the Chinese market, according to an opinion published by Project Syndicate on Thursday.
"People cannot assume other people are doing all these things just because they are exactly doing the same thing in other countries. This is the problem. Some people are doing all these things in other countries. But now they are blaming other countries doing such things. We never do these," he said.
On behalf of the Chinese government and people and in his own name, Xi extended profound condolences to the victims, conveyed heartfelt sympathies to the bereaved families and the injured, and wished the injured a quick recovery. Enditem
TikTok has been downloaded over 175 million times in the United States and over 1 billion times globally, according to the executive order, which claims that the app automatically captures "vast swaths of information" from its users, posing risks to U.S. national security.
"Foreign companies, including European ones, were part of the story of China's development, and we believe they will continue to be part of the successful story of China's development and win-win cooperation," he added.
Sorasak said during the COVID-19 outbreaks, Cambodia and China had shown solidarity to alleviate the pandemic and to navigate economic recovery.
The so-called "Report on Protecting United States Investors from Significant Risks from Chinese Companies" has recommendations such as enhancing listing standards on U.S. exchanges for access to audit work papers.
Chinese State Councilor and Foreign Minister Wang Yi gives an exclusive interview to Xinhua on China-U.S. ties in Beijing, capital of China, Aug. 5, 2020. (Xinhua/Zhai Jianlan)
In particular, Li said, the Chinese and Sri Lankan governments and people have been looking out for each other and sharing weal and woe in the joint combat against the COVID-19 pandemic, which has consolidated and elevated their friendship.
"As a champion and promoter for an open world economy, China has always kept its door wide open and committed to provide a market-oriented, law-based and international business environment for companies from Europe and other parts of the world," Wang said.