BEIJING - The Chinese government hopes that relevant parties can reach a solution regarding TikTok that complies with Chinese laws and regulations and achieves a balance of interests, the Ministry of Commerce said Thursday.

Spokesperson for the ministry He Yongqian made the remarks at a regular press conference in response to a query regarding reports that TikTok has signed agreements with three investors to establish a new joint venture in the United States to ensure its continued operations there.

To implement the important consensus reached during the phone call between the heads of state of China and the United States, the economic and trade teams of both sides previously reached a basic framework consensus on properly resolving issues such as TikTok through cooperation, based on mutual respect and equal consultation, the spokesperson said.

The spokesperson expressed hope that the US side will work with China in the same direction and earnestly fulfill its relevant commitments.

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The spokesperson also urged the US to provide a fair, open, transparent, and non-discriminatory business environment for the continuous and stable operation of Chinese enterprises in the United States, so as to promote the stable, healthy, and sustainable development of China-US economic and trade relations.