Beijing Weibo Shijie Technology, an affiliate company of TikTok's parent ByteDance, registered on December 11 a business entity named Weizijie (Beijing) Travel Agency. 

According to company information platform Qichacha, the newly founded firm has a registered capital of RMB 1 million (USD 152,800). The company's operation will include inbound tourism, domestic tourism, travel information consultancy, ticket agency, software development and others.  

Mr. Zhang Yiming, founder and CEO of ByteDance, is the controlling owner of Weizijie (Beijing) Travel Agency, according to Qichacha.