On September 15 and 16, 2025, the economic and trade teams from China and the U.S. convened for talks in Madrid, Spain. They managed to achieve a basic framework consensus on issues concerning TikTok. China stressed that this consensus is rooted in the principles of mutual respect, peaceful co - existence, and win - win cooperation, which is in line with the interests of both nations.

As per the consensus, the operational issues of TikTok in the U.S. will be addressed through measures like entrusting the management of U.S. user data and content security services, as well as licensing intellectual property rights, including algorithms. The Chinese government will approve relevant technology exports and intellectual property licensing in strict accordance with the law.

China is resolute in safeguarding its national interests and the legitimate rights and interests of Chinese - funded enterprises. It encourages companies to conduct equal commercial negotiations based on market principles. On the flip side, the U.S. side aims to strike a delicate balance between accommodating the interests of Chinese companies and safeguarding its own national security.

Both sides have reached an agreement to maintain close communication, deliberate on the details of the relevant outcome documents, and go through their respective domestic approval procedures. Investors, both domestic and international, are keeping a keen eye on the upcoming phone call between the leaders of China and the U.S. on September 19. During this call, both sides are anticipated to confirm the agreement.