TikTok urgently requests the US Supreme Court to pause the enforcement of a divestiture or prohibition law until further examination. The topmost court in the US is being called upon to reassess a lower court's decision, while Donald Trump commends the widely-used video application for its role in bridging the gap between him and younger electorate.

The submission contended that only under exceptional and limited situations have speech limitations endured the Constitution's strictest criteria.

The prohibition, set to commence on January 19, 2025, will bar TikTok's operations in the US unless it's purchased by a company not based in China.

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The CEO of TikTok vehemently refutes any connections to the Chinese Communist Party during a tense dialogue with a US senator.

"Prior to any further proceedings, it is of significant public concern that this court has the chance to carry out a thorough examination," stated the document, arguing that the case "brings up unique constitutional issues with far-reaching implications for the whole country".

My Perspective | As Nvidia faces antitrust investigation, China takes a firmer position against US 'AI collaborators'

It's possible that Beijing is seeking to strengthen its reaction to the rising tensions with Washington over chips, beginning with a warning for the AI-chip manufacturer.

The prominent investigation may be interpreted as a cautionary message to Nvidia, instead of a penalty. The international ministry of foreign affairs, for example, has not hesitated to place American companies viewed as adversarial to China on a list of sanctions. This involves instructing Chinese individuals and businesses to cut off connections with these sanctioned companies and refusing visa applications from executives of these targeted firms. Violations consist of overstepping China's "red lines", such as dealing arms to Taiwan.

Nvidia's circumstances aren't as grave as what Micron encountered the previous year. In May 2023, the American memory chip manufacturer was confronted with claims by China's Cyberspace Administration, asserting that its products posed a "national security" threat. Consequently, crucial data infrastructure operators in China were instructed to halt their purchases from Micron.

In the most unfavorable potential circumstance for Nvidia, a non-fabricating chip designer that continues to operate in China, they may have to pay a penalty to the country's market regulator for "correction," a situation reminiscent of what Qualcomm experienced in 2015.

Before its duties were transferred to the State Administration for Market Regulation, the National Development Reform Commission (NDRC) of China, acting as the country's competition regulator, imposed a fine of 6.1 billion yuan, roughly equivalent to US$1 billion then, on Qualcomm. This penalty came after a year of investigation into the leading mobile chip maker on claims of market power misuse. Even after ten years, China continues to be Qualcomm's biggest market.

The Post has revealed that Nvidia might be subjected to a fine as high as US$1 billion if it is proven to have breached the Anti-Monopoly Law, a sum that the third most valuable company globally can readily handle. If this happens, Nvidia's operations in China would continue as normal.

Exclusive | Chinese companies establish relationships with UAE as the Gulf country serves as a global trade 'superconnector'

The increasing influence of China in innovative sectors is fostering collaborations with the UAE, according to the country head of HSBC.

More and more Chinese firms are looking for collaborations in the United Arab Emirates (UAE) as the Gulf country serves as a powerful link between the East and West. This is happening alongside a transition in commerce beyond the conventional industries, says a leading banking professional.

Due to China's significant investment in research and development, business growth has been witnessed in emerging sectors such as hydrogen, ammonia, carbon capture, electric vehicles, solar energy, and consumer technology. This was shared by Mohamed Al Marzooqi, the CEO of HSBC UAE, in an exclusive interview during the Abu Dhabi Finance Week held last week. These investments are propelling progress in these respective fields.

"Traditionally, interactions with China were quite restricted, however, we're now observing a shift from this pattern," he stated, further mentioning that numerous important infrastructure developments in the UAE involve Chinese corporations.

The international financial hub of the UAE capital, Abu Dhabi Global Market (ADGM), has entered into a partnership with the Beijing Financial Street Service Bureau. This agreement, aimed at enhancing collaboration, was signed during the UAE-China Investment Summit which took place during Abu Dhabi's Finance Week. The Beijing bureau's role involves promoting and developing the Beijing Financial Street region into a national financial administration center.

Chinese businesses are contributing to nearly half of the ongoing renewable energy initiatives in the United Arab Emirates (UAE), as per Al Marzooqi. Chinese firms specializing in solar photovoltaic production are intensifying their efforts in the UAE and the Middle East, aiming to meet local needs and to function as access points to the US, European, and other global markets.

Hong Kong's stock market experiences a second day of decline, wiping out all progress achieved last week. Trader sentiment has remained low since the end of last week, and any profits made from a short-lived recovery have been wiped out.

On Tuesday, the Hang Seng Index witnessed a decrease of 0.2 per cent, closing at 19,751.81. Similarly, the Hang Seng Tech Index also saw a fall of 0.5 per cent. However, the CSI 300 Index in the mainland experienced a slight increase of 0.3 per cent, contrasting with the Shanghai Composite Index which dropped by 0.7 per cent.

During the afternoon trading, stock prices experienced a brief surge following news that China plans to raise its budget deficit to 4 per cent of its total GDP next year, a move aimed at mitigating risks from US tariffs. The Hang Seng Index initially climbed by up to 0.7 per cent, but it eventually dipped once more.

Trader sentiment has been downcast since the end of last week, wiping out any profits that came from a short-lived recovery. Stocks fell on Friday following a report from a significant Chinese economic policy meeting that failed to appease investors. The officials mainly echoed the same rhetoric from a Politburo meeting held earlier in the week, leaving traders feeling the report lacked specifics on Beijing's strategies for reviving economic growth next year.

Investors were optimistic about potential stimulus policies from the yearly Central Economic Work Conference, however, their expectations were not met as no fresh initiatives were unveiled," stated Kenny Ng, a strategist at Everbright Securities International. "The mood further deteriorated when China's consumption data, which was lower than anticipated, showed no progress even with numerous supportive measures in place."

Deye, a Chinese company that produces solar inverters, plans to pour $150 million into a manufacturing base in Malaysia. The firm's strategy includes establishing a subsidiary in the country to manufacture solar photovoltaic equipment and energy storage items.

The corporation announced plans to establish a branch in Malaysia for the production of solar photovoltaic (PV) equipment and energy storage items, as per a statement released in Shanghai on Monday. A significant component of a solar panel is the power inverter.

"As global circumstances and trade landscapes continue to shift, the need for expanding capabilities abroad is becoming more and more critical," stated the company.

Establishing a branch in Malaysia would aid the firm in broadening its global market reach and more adaptably counter any possible negative impacts from the larger economic landscape and international commerce.

The corporation stated that the proposed investment requires consent from both the Chinese and Malaysian authorities.

Solar and electric vehicle businesses from China are seeking growth in Southeast Asia as a strategy to bypass trade barriers imposed by the US and the European Union. These trade barriers are designed to shield domestic industries and prevent an influx of inexpensive imports.

Deye, a Chinese firm that produces solar inverters, is set to invest $150 million in a manufacturing facility in Malaysia. The company intends to establish a subsidiary in the country to manufacture solar photovoltaic equipment and energy storage items.

The firm announced plans to establish a branch in Malaysia for the production of solar photovoltaic (PV) equipment and energy storage products, as per a statement filed in Shanghai's stock exchange on Monday. A solar panel heavily relies on a power inverter.

"The company stated that the ever-changing global landscape and trading conditions make it increasingly critical to build capacity overseas."

Establishing a branch in Malaysia will assist the firm in broadening its international reach and more efficiently navigating potential challenges posed by the global economy and international commerce.

The business confirmed that the proposed investment requires authorization from both Chinese and Malaysian authorities.

Chinese firms in the solar and electric vehicle sectors are turning to Southeast Asia as a way to broaden their international reach and evade trade barriers imposed by the United States and the European Union. These barriers aim to safeguard domestic industries and prevent an influx of inexpensive imports that could saturate the market.

Hong Kong developer Parkview has listed a shopping center in downtown Beijing for sale. The proprietor of Parkview Green, colloquially referred to as Fang Cao Di, is reportedly struggling with costly mortgage repayments and a lack of tenants, according to insiders.

A significant business center in Beijing is being listed for sale by the Hong Kong-based real estate firm, Parkview Group. This move comes as the ongoing downturn in China's property market strains its financial resources.

Parkview Green, also recognized locally as Fang Cao Di, is situated in the heart of Beijing's business district. The property is currently on the market due to the company's struggle with significant mortgage costs and a low rate of tenancy in the capital, say sources who wish to remain anonymous due to the sensitive nature of the information.

A company owned by the Chinese government is considering buying the property, noted for its distinctive pyramid-like design, according to sources. Discussions are still in progress and no definitive choices have been decided, the sources further stated.

Finalized in 2012, the multi-purpose complex spanning 200,000 square meters, situated in Beijing's Chaoyang district, comprises a shopping mall, a hotel, corporate buildings, and a cultural centre, as stated on its website.

The possible transaction involving Parkview Green is happening during China's extended downturn in real estate and slow consumer expenditure. Retail sales saw an increase of 3% in November compared to the previous year, marking the lowest rate in three months and falling short of even the most pessimistic predictions.

In the meantime, there's a slump in China's commercial property market, as empty spaces in Beijing have surged to 20.6% in the second quarter, a peak not seen in a minimum of 15 years, as per a report from Bloomberg News referencing data from Colliers.

Restrictions on crop imports in China lead to soybean scarcity

Traders report that certain soybean processing facilities in Dongguan, located in Guangdong province, have been forced to halt operations for the past three weeks.

The attempts of the Chinese government to restrict the import of agricultural products this year are creating a scarcity of soybeans in the country's southern regions. This is due to extended delays at customs, as reported by traders familiar with the situation.

Several soybean processing facilities in Dongguan, a significant center for oilseed processing in Guangdong province, have been forced to halt operations over the past three weeks due to inadequate supply, according to undisclosed sources. These sources, who wished to remain anonymous as they are not permitted to speak publicly, revealed that shipments have been held up at the border for more than 20 days, a significant increase from the usual five-day delay.

Attempts to get a response from China's Customs General Administration were unsuccessful.

Dongguan is a significant hub for oilseed processing in China, hosting factories owned by corporations like the agricultural giant Cargill and Yihai Kerry Arawana Holdings. The costs for soybean meal, a component in animal feed, surged by nearly 7% last week in Guangdong, marking the largest hike since March, due to a supply shortage.

A representative from Wilmar International, Yihai Kerry's parent company, has stated that authorities are spending more time than is typically necessary to conduct quality checks on imported beans. There has been no response from Cargill regarding how this is affecting their Dongguan operations, despite attempts to reach them via email.

China, the globe's largest importer of food, has requested merchants and manufacturers to reduce their purchases of overseas grain this year. This is a strategy to prop up prices and bolster local agriculture during a decrease in local demand. Initially, the authorities proposed a reduction in corn acquisitions, followed by a request to stop importing barley and sorghum. However, these steps appear to be causing extended delays at customs for other types of crops as well.

Luxury stocks in Europe strike it rich towards the year-end fueled by optimism from China and the US

European high-end product companies see a revival in their stocks following a rough year, with investors banking on stimulus packages to boost consumer spending.

Stocks from European high-end product firms are recovering following a rough year, with investors optimistic that economic boosters in China will bolster its economy and trigger consumer spending.

There appears to be a resurgence of hope due to Beijing's latest attempts to bolster the economy, causing luxury company stocks to potentially have their most successful month since February. A sector-tracking basket by Goldman Sachs has increased over 8 per cent in December, thus reducing its annual fall to a mere 1 per cent.

Approximately 15% of the worldwide luxury market is made up of Chinese buyers, and any forthcoming economic boosts could trigger a surge in stock prices. Additionally, the luxury sector could see a surge in demand next year from the US, due to Donald Trump's intentions to ease economic regulations and lower taxes, potentially leading to a rise in consumer expenditure.

"Dora Buckulčíková, a portfolio manager at Robeco Switzerland, states that China and the US continue to be significant drivers for numerous high-end businesses in the immediate future. Despite the uncertainty around when the upturn will occur, she remains optimistic about both markets," she conveyed during an interview.

LVMH Moët Hennessy Louis Vuitton (LVMH), the globe's leading luxury stock, has had a challenging year. Previously, it held the title of Europe's most sizable listed company until it was surpassed by pharmaceutical firm, Novo Nordisk.

So far this year, the shares of LVMH have dipped by 14%, marking their poorest showing since the worldwide economic crisis. Currently, the stock is trading at a price-to-earnings ratio of 22 times its projected earnings for the next year, which is lower than the average ratio of around 25 times that it's maintained since 2018.

Alibaba is expected to suffer a loss of US$1.3 billion from the sale of Intime, marking a step back from physical retail. The transaction involving the department store chain stands at a value of 7.4 billion yuan, which is below half of Alibaba's initial investment in it.

The firm is divesting all its shares in the retail chain, which it initially bought into in 2014, to a buying group composed of Youngor Group and some of Intime's managerial staff, as per a document submitted to the Hong Kong stock exchange on Tuesday. Youngor Group is a company in the textile and clothing industry, situated in the eastern city of Ningbo.

The agreement was estimated to be worth approximately 7.4 billion yuan, which is less than half of Alibaba's initial investment in the business. This sell-off comes seven years after Alibaba partnered with Intime's creator to privatize the colossal mainland shopping company in a cash deal worth HK$19.8 billion (US$2.5 billion).

On Tuesday, Alibaba's shares listed in Hong Kong experienced a 1.1 per cent drop. In contrast, Youngor's shares in Shanghai saw an increase of 3.7 per cent. It's worth noting that Alibaba is the proprietor of the South China Morning Post.

Even though a loss is anticipated, Alibaba's decision to sell Intime is centered on its plans for future business framework, says Kenny Ng, a strategist at Everbright Securities International.

There's a boom in Chinese Initial Public Offerings (IPOs) in Hong Kong as Minieye and Guming prepare for their respective listings. The manufacturer of self-driving tech aspires to gather around US$100 million, while the bubble-tea seller is targeting to amass as much as US$500 million.

Chinese corporations are accelerating their plans to list shares in Hong Kong, with autonomous vehicle start-up Minieye Technology determining its share pricing and bubble tea magnate Guming reigniting its IPO strategies.

The increasing progress of Chinese firms is predicted to strengthen Hong Kong's stock exchange by 2025, based on recent projections from EY and KPMG.

In the year leading up to November, the amount of money raised through fundraising soared to HK$83.4 billion, as per the information gathered by EY. This is an 80 per cent hike compared to the previous year. However, the Initial Public Offering (IPO) market in the city experienced a decline for the third consecutive year in 2023, with the volume falling to US$5.9 billion, based on the data from the LSE Group.

Minieye has the support of Eddy Wu, the co-founder of Alibaba Group Holding, who owns a 2.3 percent share in the company, as stated in its prospectus. Prior to submitting its prospectus on May 27, the company had undergone at least 17 funding rounds. The Post is owned by Alibaba.

Established in 2014, the startup has received financial support from corporate investors like Beijing Siwei Management, Shenzhen Zeyi, and China International Capital. The firm has assisted 29 auto manufacturers in developing self-driving systems.

The marketplace is also witnessing a surge of attention from customer-centric businesses. Guming reactivated its proposal for an Initial Public Offering (IPO) in Hong Kong during the weekend, following the green light from the China Securities Regulatory Commission for the listing.

Hong Kong is set to welcome international leaders at the Asian Financial Forum focusing on 'the next growth catalyst'. The forum, scheduled for January 13 and 14, will convene 100 key figures from policy making, business, investments and expertise from around the world.

Hong Kong is preparing to hold the 18th Asian Financial Forum (AFF), marking the first significant global finance and business gathering of 2025, with the central theme being "Fueling the Next Expansion Phase".

The gathering on January 13 and 14 is set to unite 100 worldwide policy creators and business chiefs, finance specialists and investors, innovators, technology magnates, and economists. They will talk about the most recent advancements in financial markets and investment prospects. The event is coordinated by the Hong Kong Trade Development Council (HKTDC).

This will provide a chance for industry leaders to investigate how Hong Kong can leverage its position as a global financial hub to achieve advancements, as further noted by HKTDC.

"The global political and economic scenario in 2025 is poised to be laden with difficulties, highlighting the significance of global cooperation," stated Luanne Lim, the head of the AFF steering committee and the chief executive officer of HSBC in Hong Kong.

The gathering will concentrate on the expansion opportunities in burgeoning markets like mainland China, Southeast Asia, and the Middle East, along with advancements in fields such as artificial intelligence (AI), financial technology, sustainability, philanthropy, and family-run businesses, she further elaborated.

"Lim stated that the forum consistently serves as a top-tier venue for esteemed worldwide investors and fundraisers to come together and stimulate new avenues for progress, thanks to its substantial global impact and wide-ranging viewpoints."