TikTok has set up a new company which it intends to list in the US to convince the Trump administration of its adherence to regulations and commitment to national security.

Its Chinese parent company ByteDance stated today that TikTok Global will file for an Initial Public Offering, while confirming its partnership with Oracle - which has now been approved by the president - to become the data partner for the video-sharing platform, while Walmart now becomes a commercial partner.

ByteDance will still own 80 per cent of the new company, with the remainder being floated. Its board will include ByteDance founder Zhang Yiming, along with its current directors and Walmart chief executive Doug McMillon.

“TikTok Global will also launch a listing plan to further enhance its corporate governance structure and transparency,” read the statement, not specifying how much it intended to raise or which stock market it will list on.

The move is being made to avert the order to ban TikTok in the US - something which the US Department of Commerce confirmed last week. This was in response to Trump’s executive orders signed on 6 August, banning several Chinese apps suspected of stealing American user's data.

"The Chinese Communist Party has demonstrated the means and motives to use these apps to threaten the national security, foreign policy, and the economy of the US," stated the DoC. "These announced prohibitions, when combined, protect users in the US by eliminating access to these applications and significantly reducing their functionality."

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