Regarding the conclusion of negotiations on TikTok, the content is as follows: Ownership Structure: 1. TikTok's U.S. operations will form a new entity, controlled by a consortium of U.S. investors. 2. The consortium includes: Oracle (providing cloud services and technical support), Silver Lake (private sale), Andreessen Horowitz (venture capital). 3. Equity distribution: U.S. investors will hold about 80%, while Chinese shareholders (ByteDance) will hold the remaining less than 20%. Board and Control: 1. A board dominated by Americans, with at least one member appointed by the U.S. government. 2. The U.S. will gain "strict control," including supervision over the Algorithm and user data, to alleviate national security concerns. Algorithm and Intellectual Property: 1. The Chinese side agrees to authorize the use of TikTok's Algorithm and intellectual property (not a full sale) through a technology export license. 2. This is seen as a concession from the Chinese side but retains elements of "Chinese characteristics" (such as cultural content), avoiding a complete divestment of core technology. Data Processing: 1. U.S. user data will be entrusted to a third party (possibly Oracle) for operation, stored on U.S. servers, to prevent access by the Chinese side. Other Terms: 1. The protocol emphasizes "resolving through cooperation," reducing investment barriers and promoting economic and trade cooperation. 2. There are no direct tariff adjustments mentioned, but it paves the way for subsequent trade negotiations (such as semiconductors and rare earths), possibly including the Chinese side partially lifting technology restrictions and the U.S. lowering some tariffs.