TikTok owner ByteDance is set to sell or shut down all of its securities businesses amid the tightening regulatory environment for Chinese internet giants' financial operations, Caixin has learned.
A ByteDance subsidiary has agreed to sell 100% of its stake in Beijing Wenxing Online Technology to Chinalin Securities for 20 million yuan ($3.16 million), according to a filing released by Chinalin Securities on Monday.
