Home Business News Chinese firm TikTok shelves plan to move HQ to UK

Chinese firm TikTok shelves plan to move HQ to UK

by Peter Smyth Tech Journalist
19th Jul 20 1:10 pm

TikTok the Chinese social media giant have shelved their plans to move their headquarters to the UK, amid rising tensions between Beijing and London.

ByteDance TikTok’s parent company had been in discussions with the Department for International Trade and Downing Street to create 3,000 jobs.

The Sunday Times reported that ByteDance have suspended the negotiations due to the “wider geopolitical context.”

There have been rising tensions over the new security law in Hong Kong along with Boris Johnson banning Huawei from the UK’s 5G network.

TikTok said in a statement the newspaper, “We remain fully committed to investing in London and inspiring creativity and bringing joy to our users around the world.”

A government spokesperson told the PA news agency, “ByteDance’s decision on the location of their global HQ is a commercial decision for the company.

“The UK is a fair and open market for investment where it supports UK growth and jobs.”

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