TikTok to pull out of Hong Kong

What they're saying: "In light of recent events, we've decided to stop operations of the TikTok app in Hong Kong," a spokesperson told Axios on Monday night.

• Observers have said the new law forces companies doing business in Hong Kong to provide user data to the Chinese government as well as to comply with censorship requests.

Between the lines: The move comes as TikTok parent ByteDance has looked to more clearly separate TikTok, which operates outside of China, from a similar app used within mainland China. The company has said that TikTok has not shared data with the Chinese government nor would it, a position that would be difficult — if not impossible — to maintain under the new law.

TikTok said last September it had 150,000 users in Hong Kong. While that number has probably since increased, it remains a small market and an unprofitable one, according to the company.