Amid TikTok ban China announces new regulations targeting foreign companies

Measures include imposing fines and entry restrictions on foreign employees working in China

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On Saturday, in response to a looming ban on U.S. downloads of the Chinese owned apps, TikTok and WeChat, China issued new regulations for its “unreliable entity” list, targeting foreign companies that endanger their national security.

According to the New York Post, any company that ends up on the list could be banned from importing or exporting from China, and may also be barred from investing in the country. Additional measures include imposing fines and entry restrictions on foreign employees coming into China and revoking their work permits.

Read More: China would rather see U.S. TikTok ban than stiff-armed sale

The news came a day after the U.S. said it would ban TikTok and WeChat from U.S. app stores on Sunday. The order will not affect existing customers of either platform, but will prevent them from receiving updates. A fire-sale deal that would allow Microsoft to assume control of U.S., Australia, Canada, and New Zealand operations recently fell through.

President Donald Trump has pressured parent company, ByteDance to sell TikTok’s U.S. operations to a domestic company, and China’s Ministry of Commerce urged the U.S. to stop what it called bullying behavior and wrongdoing.

ByteDance filed an 11th-hour motion in a Washington federal court to attempt to stay the looming ban. China’s Ministry of Commerce has also warned that they would “take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies.”

Read More: Trump issues executive order banning TikTok and WeChat

The TikTok logo is displayed outside a TikTok office on August 27, 2020 in Culver City, California. (Photo by Mario Tama/Getty Images)

With approximately 100 million users, TikTok is highly popular in the U.S., which has caused concern among intelligence officials and the Trump administration over the possibility of the Chinese government gaining access to user data.

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