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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.
A general view of Hong Kong International Airport in Chek Lap Kok. Photo: Jelly Tse
Banking & finance

Airport Authority issues record HK$19b in bonds amid strong investor demand

Investor participation was predominantly local, with more than 90 per cent from Hong Kong, according to joint bookrunner HSBC.

Consumers

Ikea to open first small-format Beijing store to tap changing consumer trends

Banking & finance

Why Moody’s has raised China’s credit outlook amid Iran war shocks

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China exports

Chinese EVs are making inroads in one of world’s most competitive auto markets

BYD is now one of Korea’s fastest-growing imported EV brands while rivals like Chery look to break into a market long dominated by local giants.

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An aerial drone photo taken on April 10 shows vehicles to be exported at Yantai port in east China’s Shandong province. Photo: Xinhua
Business of climate change

Asia-Pacific firms face credit pressure from Iran war energy shock, S&P says

Higher energy prices ratchet up pressure on manufacturing businesses to maintain their profit margins amid rising raw material costs.

China property

New home prices in China’s biggest cities record first rise in 10 months

Shanghai leads, and also records strong second-hand sales, but analysts hesitate to declare overall market stabilisation.

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China exports

Chinese steelmakers team up to adjust to EU’s carbon-linked import imposts

Industry insiders say carbon costs are expected to cascade through supply chains, adding to compliance costs for Chinese exporters.

Workers prepare steel coils for shipment at Lianyungang Port, in Jiangsu province, on Saturday. Photo: AFP
China’s private sector

Chinese firms drawn to Brazil as they seek anchor for Latin America expansion

Chinese brands like Mixue, BYD, and Geely are surging into Brazil, leveraging strong trade ties and local strategies for growth.

Hong Kong economy

Hong Kong balancing security and innovation as nation’s ‘firewall’: Paul Chan

Finance chief says security is key to China’s high-quality growth as geopolitical tensions create risks to energy supplies and financial markets.

Banking & finance

Calls grow for HKMA to go further on stablecoins after conservative first batch

Analysts and investors say the HKMA’s cautious approach prioritises risk control, but limits Hong Kong’s digital asset ambitions.

Analysts say the HKMA has prioritised risk management , even as it seeks to promote financial innovation through stablecoins. Photo: Jonathan Wong
United States

Popeyes returns to Beijing after 24 years, as global chains eye China growth

Brand aims to open up to 20 stores in Beijing this year after ‘two years of exploration’, mostly in Shanghai, to perfect its model, CEO says.

Diners crowd Popeyes’ Beijing store at The Malls at Oriental Plaza on April 10, 2026. Photo: Zhu Wenqian
China exports

As Iran war jolts global oil, can China’s energy storage tech blunt the impact?

Strong overseas demand, fuelled by the rise of AI-powered systems, could continue amid Iran war pressures, analysts say.

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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

Developer steps back from consolidating three commercial sites as high costs and patchy demand weigh on redevelopment decisions.

No 76 Percival Street in Causeway Bay. Photo: Antony Dickson
Bonds

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

The e-commerce giant is issuing the yuan-denominated notes in two tranches of 7.5 billion yuan and 2.5 billion yuan.

S&P Global Ratings has assigned an ‘A-’ long-term rating to JD.com’s notes. Photo: Reuters
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.

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.

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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.

The bank is awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, sources said. Photo: Shutterstock
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.

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.

Apartment blocks under construction in Nanjing, in China’s eastern Jiangsu province. Mainland China’s first-tier new home prices were unchanged month on month in February, ending a nine-month decline. Photo: AFP
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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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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A motorist rides past a Pertamina petrol station displaying prices of fuel in Jakarta on Tuesday. Photo: AP
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.

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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