TikTok ends retail business in Indonesia after ban on social media shopping

JAKARTA, Indonesia (AP) — Chinese-owned video platform TikTok says it will halt its online retail operation in Indonesia to comply with the country’s decision to ban e-commerce transactions on social media platforms. The decision comes as a big blow for TikTok’s fastest-growing market. The company statement said it will stop facilitating e-commerce transactions in TikTok Shop Indonesia by 5 p.m. Wednesday. Last week, the Indonesian government announced the new regulation prohibiting social media companies from facilitating sales of products on their platforms in a bid to protect small businesses from e-commerce competition, accusing them of predatory pricing.