TikTok is originally Chinese, but most other social media is from the US. Would you argue that the rise of far-right content in YouTube, Facebook or Instagram is also a consequence of the Chinese government?
China's policy hasn't been to destabilize Europe, it's been to get closer commercially, for example with the Belt and Road initiative. Unless you bring further evidence than "TikTok is Chinese" (with it being the only Chinese social media we use), or "China benefits from it", it's nothing but speculation, which is absolutely unnecessary since the very far-right content creators from Europe and the US are from those countries and also funded by western organizations such as the Atlas Foundation.