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ByteDance divests brick-and-mortar property unit

ByteDance, the tech unicorn behind global hit short video app TikTok and its Chinese sibling Douyin, has disposed of its bricks-and-mortar real estate agency, taking a step back from China’s property industry amid continued weakness in the country’s housing market, reports the South China Morning Post. Fujian Haofang Youxing Information Technology Co a ByteDance subsidiary that…

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