China and all other parties have agreed to the terms of a deal for TikTok's US operations

The tentative approval for the deal forms part of a wider framework that extends beyond TikTok itself, incorporating broader investment elements, said Sun Chenghao, a fellow at Tsinghua University’s Center for International Security and Strategy.

“It shows that both superpowers are considering the bigger picture and planning for the long term,” he told CNA.

Although details remain unclear, analysts say a successful agreement would represent more than a corporate restructuring. It would indicate that, even amid escalating rivalry, the world’s two largest economies can still find common ground for negotiation.

Others caution that any perceived concession could shift the balance of power.

“Protecting ByteDance’s global revenue and influence is important,” said Jonathan Ping, an associate professor at Bond University. “But ceding operational control could diminish China’s strategic leverage over culture and data, while also signaling to other governments that similar demands may be possible.”

One Deal, Two Narratives
TikTok, owned by Chinese tech giant ByteDance, counts more than 170 million U.S. users — around half of the country’s population.

Its future in the U.S. has remained uncertain for years, caught in political wrangling across both the Joe Biden administration and Donald Trump’s two presidential terms.