ByteDance, the Chinese company that owns TikTok, has launched an AI code editor, which relies on Microsoft software, amidst a postponed TikTok ban. This new software is specifically designed for Chinese programmers working abroad, following a temporary relief granted by the Trump administration.

The recently launched integrated development environment (IDE), known as Trae, is aimed particularly at international markets. It provides coders the opportunity to interact with an AI assistant during programming and generate pieces of code or compose project-level code using natural language cues.

The artificial intelligence capabilities of the tool are driven by OpenAI's GPT-4o or Anthropic's Claude-3.5-Sonnet, and at present, these features can be utilized at no cost. The tool's user interface is compatible with both English and Chinese, catering to the numerous programmers based overseas in China. The firm has not yet disclosed if it intends to add more languages to its support list.

The software has been introduced on Apple's macOS and a Microsoft Windows version is currently being developed, as stated on the website. The software is disseminated by ByteDance's subsidiary Spring (SG) Pte, based in Singapore, which is also the firm responsible for the launch of its Cici chatbot in 2023.

Troubled Chinese developer Vanke endures a bond downgrade from Fitch Ratings

S&P Global also lowers the ratings of the debt-ridden builder's bonds by two levels due to worries about the firm's liquidity.

The demotion is indicative of a decline in China Vanke's sales and cash flow, which is diminishing its financial safety net in preparation for significant debt repayments in the capital market due in 2025, as per the analysis by Fitch.

Fitch noted that the changes also accounted for doubts regarding the immediate sales outcomes of the housing constructor, its capacity to secure steady domestic financial resources, and the possible consequences of latest news stories concerning the location of its highest-ranking official. Such events might impact the trust of home purchasers and the overall market's view of the firm, Fitch stated.

On the same day, S&P Global Ratings reduced China Vanke's bond rating by two levels to B-, due to worries about the company's liquidity.

S&P analysts have stated that they think the financial stress on China [Vanke] has increased, after evaluating its cash availability to be lower than their earlier predictions.

The gathering in Beijing highlights China's emerging AI figure, DeepSeek's creator, Liang Wenfeng. Liang's involvement in the Monday meeting with China's head of government signifies the rising influence of his start-up, DeepSeek, in the AI sector.

During Monday's gathering, Li urged the "new growth catalysts", developed through scientific and technological advancements, to assist in "safeguarding and enhancing the quality of life for the people", as per the report by Xinhua.

Liang's involvement in Monday's discussion with Li signifies DeepSeek's rising significance in the AI sector.

Shares of Country Garden surge by 17% as trading recommences, fueled by expectations of debt restructuring. The stock saw an increase of up to 30% in Hong Kong following a halt in trading that lasted for nine months.

Stocks of Country Garden Holdings experienced a dramatic increase by roughly 30 per cent when the struggling Chinese real estate firm recommenced trading following a nine-month halt. This was done in an attempt to restructure some of its $155 billion debt.

The company's shares saw a 17.5% increase, ending at HK$0.57 in Hong Kong's Tuesday market, even reaching a high of HK$0.63 at one point. However, the firm has seen a significant decrease in its market value, losing 97% since its peak in 2018.

Similar to numerous premier property developers in China, the company has been grappling with a decrease in sales following the Covid-19 pandemic. This issue has been exacerbated by a cash flow crisis after Beijing initiated its "three red lines" strategy in 2020, aimed at limiting over-lending amongst the most vulnerable participants in the industry.

"The market probably thinks there's a potential for the restructuring to work out," leading to the surge in stock prices, stated Raymond Cheng, a director at CGS International Securities in Hong Kong. "I myself am still skeptical, since the restructuring process won't be straightforward and many obstacles still lie ahead."

As of June 30 of the previous year, Country Garden had accumulated total debts amounting to 1.13 trillion yuan (approximately US$155 billion), composed of 250 billion yuan in bonds and bank loans. Just recently, the company proposed a restructuring plan aiming to decrease its foreign debt by as much as US$11.6 billion. According to financial reports released the past week, the company posted an unprecedented loss of 178.4 billion yuan for the year 2023.

Alibaba Cloud unveils a broader range of AI models and development resources as part of its international expansion efforts. This recent initiative is in line with the company's larger plan to increase foreign investments in major global markets.

"Alibaba Cloud is dedicated to providing genuine worth to developers worldwide through state-of-the-art AI models, improved cloud infrastructure, and readily available support programs," said Guo Dongliang, who is the Vice President of International Business and also oversees International Products and Solutions at Alibaba Cloud Intelligence, during the event.

The firm's most recent action is in line with its overall plan to increase foreign investments and broaden its cloud infrastructure services in vital global markets.

Breaking News | China may relax its position on TikTok's US deal as Trump extends a 75-day reprieve, according to insiders

It's possible that Beijing might be more amenable to ByteDance offloading a portion of its stocks to US investors to better US-China relations, insiders and analysts suggest.

The recent keenness of US President Donald Trump to negotiate a deal regarding TikTok has led Beijing to recognize the worth of a balanced agreement aimed at enhancing the two-way relationship, stated an individual who was informed about the considerations of the Chinese government.

Upon his return to the White House on Monday, Trump issued an executive order postponing the federal enforcement of a regulation mandating U.S. companies to cease supporting TikTok unless ByteDance disposes of its U.S. operations. Additionally, Trump voiced his intention to ensure a U.S. organization holds a 50 per cent share in order to maintain the app's accessibility for its 170 million American users.

Trump stated that he would levy extra charges on Chinese goods if Beijing does not sanction a deal. "We might need to seek China's consent as well. I'm uncertain, but I believe they will endorse it," he declared.

The Chinese authorities haven't explicitly reacted to Trump's appeal, however, China's foreign ministry has lately toned down its language regarding a possible agreement. This week, at a press conference, Foreign ministry representative Mao Ning stated that corporate activities and purchases "ought to be determined by businesses based on market norms".

The Fidelity International report reveals the involvement of minority shareholders in China.

The report from Fidelity International indicates a decline in the rate of participation at general meetings of companies listed on the mainland.

"It's possible that we've reached the maximum potential for improvements in stewardship practices driven by investors from the bottom-up. The next step in progress might need more definitive guidance from regulatory authorities," stated Tina Chang, a deputy director for sustainable investing at FIL, during a discussion. The company reported it managed assets worth US$925.7 billion as of the close of September.

The research encompassed approximately 46,000 decisions from over 5,000 stakeholder gatherings for upwards of 600 companies listed on the mainland. It found that the average participation rate of minority shareholders increased by 85 basis points between 2020-2021 and 2022-2023. This increase is roughly half of the 1.67 percentage-point rise seen in earlier years.

The observed pattern might be due to a decrease in the expansion of minority influence, which is a result of a drop in the dominance of ownership, as indicated by the proportion of companies where a dominant shareholder owns 30% or more of the shares, according to the report.

The report pointed out a plateau in the count of active shareholders involved in stewardship as an additional factor, partly attributed to decreased international involvement. In 2023, foreign investors owned 8 per cent of the freely traded shares listed in the mainland, a drop from 9.5 per cent in 2021, as per the statistics gathered by China International Capital Corp.

Chang suggested that a stewardship code, essentially a guideline for professional asset managers, could potentially enhance the involvement of minority shareholders in companies listed on the mainland. He added that this concept has been a topic of conversation among market players.

Banking professionals in Hong Kong are forming a task force to expand business connections in developing markets. The task force intends to host promotional events and keep industry stakeholders informed about new regulations and policies in Hong Kong, according to the association.

The Hong Kong Association of Banks (HKAB) is intending to establish a task force within this quarter. The goal is to devise strategies that will appeal to more customers from emerging markets to their financial center, thereby reinforcing the city's position as an offshore yuan hub.

The chairwoman, Mary Huen Wai-yi, announced in a press conference that the association intends to reach out to industry groups and other interested parties, particularly those in Southeast Asia and the Middle East. The goal is to assist them in establishing or expanding their market footprint in Hong Kong.

"The task force will conduct promotional events and brief industry stakeholders on fresh policies and regulatory actions in Hong Kong, as a method to attract new clients," she revealed. The plan is to "advertise Hong Kong as a hub for trade deals, family businesses, and wealth management," she further explained.

Members of the HKAB have collaborated with the government and market overseers in numerous commercial and business ventures across various Southeast Asian and Middle Eastern markets in the past few years, according to Huen. These ventures were initiated by Chief Executive John Lee Ka-chiu as a strategy to explore new markets and decrease the city's vulnerability to geopolitical uncertainties in the wake of trade conflicts between the US and China.

Five minutes past three

Paul Chan invites businesses from the Middle East to come to Hong Kong in 2023 to investigate potential listing prospects.

A working group focused on developing markets will be formed as Beijing aims to strengthen the interconnectedness of financial markets and bolster Hong Kong's status as the leading offshore yuan center. This will be accomplished through a new liquidity facility worth 100 billion yuan (equivalent to US$13.6 billion/HK$106 billion) to stimulate trade settled in yuan.

Could increased tuition costs, fresh taxation policies, and a decrease in rental income growth discourage Hongkongers from investing in UK real estate?

Rising schooling costs, a recently introduced tax system, and a deceleration in the growth of rental rates might deter Hongkongers from purchasing properties in the UK.

Data from 2024 revealed that approximately 190,000 real estate properties in England and Wales were foreign-owned, marking a 2.6 per cent increase from the previous year.

Skipton has recently launched a five-year mortgage plan with a fixed interest rate starting from 4.99 percent. Additionally, they have rolled out a novel three-year loan scheme that begins with a fixed interest rate of 5.89 percent.

However, the latest happenings in the UK could potentially decrease interest.

Billions are being traded in Trump's digital currency meme coin, even as Bitcoin sees a decline. Key trading platforms such as Coinbase and Binance have announced plans to include Trump's currency on their sites. In the meantime, Melania has also launched a coin.

The token, which is traded as "Trump" on the Solana blockchain, saw its market value skyrocket to $15 billion over the weekend, according to CoinMarketCap data. This surge followed the Republican's promotion of the token on his social media platforms last Friday.

The market value of the digital asset dipped under $10 billion in New York on Sunday, following the introduction of a coin by Trump's spouse, Melania. This move attracted investors looking to profit from the swift changes in speculative demand for memes.

In the meantime, the broader cryptocurrency market faced challenges over the weekend, with a decline in the value of the biggest digital coin, bitcoin, and a more significant fall for the runner-up, ether. Contrarily, SOL, the cryptocurrency linked with the Solana blockchain that hosts the Trump meme coins, defied the trend and saw a surge.

The volume of investment going into the Trump token has outpaced most other cryptocurrencies, with the exception of SOL and a few associated assets, according to Richard Galvin, a Sydney-based co-founder of the hedge fund DACM.

Hong Kong shares surge following encouraging discussions between Trump and Xi

Leading tech firms JD.com, Alibaba, and Baidu spearhead the winners, as investors express relief over potential easing of US-China tensions.

Shares in Hong Kong surged due to hopeful sentiments regarding US-China ties, after an encouraging conversation between Chinese President Xi Jinping and US President-elect Donald Trump.

On Monday, the Hang Seng Index ended the day with a 1.8 per cent increase, settling at 19,925.81, after experiencing a 2.6 per cent surge during the day. In mainland China, the CSI 300 Index experienced a 0.5 per cent growth, and the Shanghai Composite Index also saw a slight increase.

Technology shares experienced a significant rise, with the Hang Seng Tech Index increasing by 2.6 per cent. Standing at the forefront was the e-commerce titan JD.com, which saw a striking 7.3 per cent surge to HK$157.40. Concurrently, its counterpart Alibaba Group Holding climbed 4.7 per cent to HK$84.55, and the technology behemoth Baidu made a 2.7 per cent gain to HK$80.80.

Significant increases were also seen in the pharmaceutical firm, WuXi AppTec, which jumped 7.2 per cent to HK$55.65, whilst food delivery service, Meituan, rose 5.2 per cent to HK$155.50. Athletic company Anta Sports experienced a growth of 3.8 per cent to HK$81.05, and the electric car manufacturer BYD saw a rise of 4.3 per cent to HK$275.00.

During their Friday phone conversation, Xi and Trump discussed several key topics including the Ukraine crisis, the dispute between Israel and Palestine, and the US Supreme Court's ban on TikTok. Following Trump's intention to momentarily halt a countrywide prohibition on the short-video application, TikTok was operational again in the US by Sunday. This came after the app had been previously shut down to adhere to a federal law intended to compel it to cut off its connection with its Chinese parent company, ByteDance.

The Hong Kong judiciary has postponed the Country Garden insolvency plea hearing until May 26. Previously in this month, the developer had put forth its initial plan to reorganize up to US$11.6 billion in debts.

Judge Linda Chan postponed the case to May 26 following a plea from Ever Credit, a subsidiary of Kingboard Holdings, a Hong Kong-based company that manufactures laminates and chemicals.

During the court proceedings, Ever Credit appealed to the judge for an immediate order to liquidate, while a different creditor asked for a postponement of four weeks. The legal representative of Country Garden, Jose-Antonio Maurellet, informed the court that the company required an additional four months, but it should be capable of reaching an agreement on a term sheet with the creditors by the end of February.

Last week, Country Garden announced its anticipation to finalize a deal on a debt reshuffling strategy with foreign lenders within the first six months of 2025.

Earlier this month, the developer based in Foshan unveiled its inaugural plan to reorganize nearly US$11.6 billion in debt, offering several routes, such as transforming the debt into cash or agreeing to lengthened repayment terms.

The company, which was previously the biggest developer in mainland China based on sales, plunged into a financial crisis in August 2023 after failing to meet the repayment deadline for two bonds denominated in US dollars. This set off a wave of selling in the sector. The shares of Country Garden, listed in Hong Kong, have been on hold since April 2 due to a delay in the release of its full-year report for 2023 and the mid-year report for 2024.