There is also another major consequence that would happen if Xi doesn't intervene and stop Zhang from selling TikTok, TikTok is by no means a small app, it is becoming a global rival to other giant social media platforms, so if something as big as TikTok get's sold to the US, then more and more smaller Chinese apps will be sold to the US one after the other any time the US government tells them to. In this case China should kiss goodby the idea that it will be anywhere near the US in terms of software for as long as Xi remains president. I mean if even the sale of TikTok can't get the attention of the Chinese government then what chance does the smaller apps have! And the small apps are actually in a way more important than the big ones, because it's the collection of the small apps that make up a homegrown OS in case if the US tells it's (and it's allies) smaller apps to boycott Chinese electronics (eg: what Google did with Huawei).
Where is Xi Jinping any way? Did he say anything about what's going on?
By the way one of the things that I frequently hear is "hey once Trump goes away and a democrat rules the US, China will have a much easier time", ofcourse this is nothing but wishfull thinking, Trump campaigned on anti establishment slogans "drain the swamp" but once he became president he appointed establishment puppets all around himself and effectively Trump drowned in the swamp, but with Trump at least he doesn't like the idea of forming a trans Atlantic alliance against China instead he started a trade war with Europe, if Joe Biden becomes president (and he will) then he will maintain the anti China policy (being anti China is the only the Americans agree on) and he will also call America's allies to join him. I remember what a PLA general said on this issue "the trade war was inevitable even if Trump didn't win".