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S&P Global Ratings

S&P Global Ratings
The latest news and top stories on S&P Global Ratings. New York-based S&P specialises in credit ratings and financial analysis on stocks bonds and commodities. Known as the largest of the "Big Three" credit-rating agencies, S&P has over one million ratings outstanding.
Analysts say Japanese retailers must adapt more quickly to China’s evolving retail landscape. Photo: Shutterstock
Tianjin

Japanese chains lose ground in north China as competition and deflation bite

Store closures in Beijing and Tianjin highlight mounting pressure from domestic rivals amid shifting consumer habits.

Hong Kong property

New World pulls back on Causeway Bay acquisition amid uneven recovery

Bonds

China’s JD.com returns to dim sum bond market with 10b yuan offering

China’s private sector

Chinese coffee brands need more than low prices to compete globally: analysts

Luckin, Lucky Cup, Cotti and Nowwa are expanding quickly overseas, but analysts warn success depends on consumer experience and quality.

A Luckin Coffee outlet in Manhattan, New York. Photo: Getty Images/AFP
Semiconductors

Chinese analogue chipmakers raise prices as mature-node producers poised to gain

Higher prices give China’s mature-node producers room to compete with US, European rivals without sacrificing too much margin, analysts say.

Banking & finance

Exclusive | Turkish private bank plans Hong Kong entry amid Middle East tensions: sources

Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say.

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China consumption

China consumer firms post strong results but analysts warn recovery may lag

Hong Kong-listed consumer firms report strong results but analysts say the gains reflect structural shifts rather than broad recovery.

People queue to enter a shop in Liuzhou city, Guangxi Zhuang Autonomous Region, on March 10. Photo: Xinhua
China property

Shanghai joins major cities in loosening commercial property loan rules

Beijing remains the lone top-tier holdout as other cities ease their down payment requirements.

China property

China’s first-tier home prices stabilise in February after a 9-month decline

Annual price declines deepen nationwide, with policy support and supply reforms seen as key to recovery.

China property

China mall shuffle: as EVs exit, who’s filling the ground-floor showrooms?

New demand for mall space comes from brands riding fresh trends, including Unitree Robotics, Pop Mart and Lululemon.

People walk past an EV showroom inside a shopping mall in Beijing. Photo: AP
China's population

Can AI help China cushion economic fallout from its rapidly ageing population?

As fertility rates fall, Asian economies face a daunting challenge – sustaining growth with fewer workers.

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A robot serving food and drinks on the China Mobile stand, taken on March 3 in Barcelona during the Mobile World Congress, the world’s biggest mobile technology showcase and fair. Photo: AFP
Two Sessions 2026

China to pursue commercial health insurance to ease strain, support innovation

Commercial health insurance enters China’s policy agenda as an ageing population and costs strain basic coverage.

Indonesia

Is Indonesia’s fuel subsidy sustainable as Iran war continues?

Higher oil prices would mean bigger fuel subsidies, piling on the pressure on a budget that is already under investor scrutiny.

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Two Sessions 2026

China targets lowest growth range in 35 years as pressures rise

Beijing to prioritise hi-tech over stimulus-driven growth with focus on the people in notable shift, premier’s work report to NPC reveals.

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Chinese Premier Li Qiang’s speech at the National People’s Congress opening session is broadcast on a giant TV screen, in Beijing on Thursday. Photo: Robert Ng
Hong Kong property

Hong Kong banks’ collateral asset valuations to continue declining in 2026: S&P

The city’s commercial property market remains on a sustained downturn, as rents continue to fall and vacancy rates soar.

A general view of the skyline in Hong Kong’s Central district. Photo: Jelly Tse
Hong Kong property

Why global banks are betting on a double-digit surge in Hong Kong home prices

JPMorgan and Goldman Sachs join Morgan Stanley in lifting their market outlook to double digits, as price gains outpace previous expectations.

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China property

Green shoots for China property? Maybe – but the turnaround’s still shaky

Home-price declines eased in January and policy support is building, but analysts warn oversupply continues to cloud the outlook.

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China property

No floor yet: China home prices keep falling despite policy support

Monthly declines narrowed in January, yet worsening year-on-year prices suggest housing pressures persist.

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Chill wind: analysts say China’s nationwide home prices have not yet shown signs of stabilisation. Photo: EPA
China-Africa relations

As China seeks to globalise the yuan, it finds a new vehicle in Africa

Africa Finance Corporation executive says entering Chinese capital markets is a ‘natural evolution’.

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China’s private sector

China’s Year of the Horse shoppers let emotional satisfaction take the reins

Brand prestige fades in importance as consumers favour festival-themed toys, playful designs and pet items.

Artificial intelligence

US software rout spills over to China’s SaaS sector

The software sector in China has long been constrained by slower cloud adoption and a weaker appetite for recurring subscription fees.

AI letters and a robot hand are seen on computer motherboard in this illustration created on June 23, 2023. Photo: Reuters
Commodities

China unveils 18-point plan to boost global non-ferrous metals pricing power

The move is aimed at strengthening the links between the futures, spot and derivatives markets for non-ferrous metals and Shanghai’s role.

Currently, 11 non-ferrous metals futures contracts and 10 options, including copper, are listed on the Shanghai Futures Exchange. Photo: Reuters
Kuaishou

Kuaishou taps global debt market with first US dollar, yuan bonds

Kuaishou is China’s second-largest short-form video platform and the third-largest mobile app in the country by total user time spent.

China-EU relations

China-EU deal on EVs marks rare agreement in frosty relations

The EU will waive tariffs on China-made battery electric vehicles if carmakers set a minimum price that offsets the effect of subsidies.

Hong Kong property

Hong Kong’s housing market gets a vote of confidence from major banks

Most financial institutions forecast price gains ranging from 5 to 10 per cent, supported by supply constraints and end-user demand.

A night view of Hong Kong Island and Kowloon from The Peak. Property prices in the city are expected to trend upwards this year. Photo: Sam Tsang
Volkswagen

Can Volkswagen regain its China market share with its US$3.5 billion bet?

Volkswagen, which once had 50 per cent of China’s vehicle market, has invested €3 billion in its largest R&D centre outside its home country in Hefei.

Volkswagen’s research and development centre in eastern China’s Anhui provincial capital of Hefei on November 20, 2025. Photo: handout
China property

Vanke’s bondholders reject payment extension, raising default risk

The rejection in a three-day vote that ended late on Friday gives the developer a grace period of five business days to pay 2 billion yuan of onshore bond.

Electric & new energy vehicles

High-end car sales sink in China as cheaper brands trump European marques

Many buyers were swayed by a 20,000 yuan (US$2,830 ) trade-in subsidy offered by the government for purchasing electric and plug-in hybrid vehicles.

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