Categories: Business

Shiji Group Sells StayNTouch to MCR in United States | Before TikTok, this Chinese company is going to sell its business in America, the Trump administration had put pressure

Photo: FORBES

Shiji Group Sells StayNTouch to MCR in United States

Beijing / San Francisco. The short video app TicketLock has been in the news for quite some time. Sometimes due to pressure from the Donald Trump administration of its parent company, ByteDance, to sell the business in the US, sometimes due to news of TicTalk CEO Kevin Mayer resigning. This Chinese company is in the news for one reason or another. Now news is coming that another Chinese company, Shijie Group, is also preparing to sell its business in America.

The Shijie Group is a global hospitality technology services company based in China, with clients including the Kempinski Hotel.

Following an White House administrative order, the group said on Tuesday that the board had decided to sell its US-controlled subsidiary Stay N Touch for up to 100 percent, according to The Global Times report. Its business will be assigned to MRC, a company that operates hotels in the United States.

Beijing's independent internet analyst Liu Dingding told the Global Times that amidst the US government taking action on Chinese technology companies based on threats to national security in the state, Shijie is allegedly the second such Chinese after Tittock's parent company, ByteDance Will be the company, which has been pressurized to sell its US operations.

This post was published on September 2, 2020 2:54 pm

Content Team

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