Chinese tech giant ByteDance has said it has no plans to sell TikTok after a new US law put it on a deadline to divest from the hugely popular video platform or have it banned in the United States.

Tech publication, The Information, earlier reported that ByteDance is exploring scenarios for selling TikTok's US business without the algorithm that recommends videos to TikTok users. ByteDance denied it was considering a sale.

"Foreign media reports about ByteDance exploring the sale of TikTok are untrue," the company posted on Thursday on Toutiao, a Chinese-language platform it owns.

"ByteDance does not have any plans to sell TikTok."

TikTok's CEO Shou Zi Chew said on Wednesday the social media company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban its popular short video app used by 170 million Americans.

The bill, passed overwhelmingly by the US Senate on Tuesday, is driven by widespread worries among US lawmakers that China could access Americans' data or use the app for surveillance.

Biden's signing sets a January 19 deadline for a sale – one day before his term is poised to expire – but he could extend the deadline by three months if he determines privately owned ByteDance is making progress. (AFP/Reuters)