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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.
Illustration: Henry Wong
Electric & new energy vehicles

China’s EV makers went from small fry to big shots. Can others do the same?

The global green shift is providing a way for emerging economies to catch up with global powerhouses, with help from China’s supply chain.

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China consumption

Five Guys eyes Beijing as US chains hunger for success in China

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Electric & new energy vehicles

Beijing opens lithium futures to foreign traders to cement pricing power over US

China’s private sector

Race to the bottom? Why retailers bet on their own brands in China

Analysts forecast in-house goods to rise sharply as Chinese retailers seek loyalty and offset lost supplier-funded fees.

Chinese retailers are increasingly relying on higher merchandise margins generated by their own brands, according to a report. Photo: Sam Tsang
China consumption

Pandora, Swarovski shrink China footprint amid shifting consumer preferences

In the first quarter, China’s gold consumption reached 303.3 metric tons, up 4.4 per cent year on year.

Electric & new energy vehicles

China’s heavy trucks are going electric, and abroad, paving the road to net-zero freight

Analysts say low ownership costs and battery gains are fuelling an export boom to regions such as Southeast Asia and Africa, positioning Chinese firms as main engines.

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US-China trade war

Why the US remains ‘fragmented’ in a critical copper clash against China

Washington’s efforts to rebuild the domestic copper industry are colliding with Chinese dominance in a metal central to advanced tech and defence systems.

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Illustration: Lau Ka-kuen
Indonesia

Indonesia hails China’s backing for panda bond amid investor concerns over rules

While Jakarta has assured Chinese investors about Indonesia’s economic outlook, analysts cite regulatory uncertainty as a key barrier.

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China’s private sector

From Alo to Texas Chicken, foreign brands bet on China despite stiff rivalry

For premium and niche brands, China still represents a growth opportunity in a fast-changing consumer market.

China trade

China’s ports are by far the most efficient in the world: World Bank study

Seven Chinese ports including Hong Kong ranked among the world’s top 10 in the report, which tracks how quickly trade hubs process ships.

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A container ship is moved to its berth at a port in China’s eastern Shandong province. Photo: AFP
Macau

Hong Kong-listed Tencent eyes global note issuance amid AI investment surge

Firm expands note programme to up to US$30 billion and proposes international offering to professional investors in next 12 months.

A view of the Tencent headquarters building in Shenzhen, in China’s southern Guangdong province. Photo: AFP
China property

Food Republic joins wave of foreign brands retreating in China

Singaporean operator leaves capital after 25 years as food court model loses favour amid rise of food delivery, shopping-mall evolution.

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China's economic recovery

Struggling Chinese regions mine ledgers for dormant riches in ‘idle’ property

Localities battling debt, such as Jilin and Chongqing, pivot to ‘asset revitalisation’ as land revenue remains weak, but analysts flag new risks.

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Zijin Mining

China’s largest mining company poised for global top 3 status by 2028, says S&P

Ratings agency highlights Zijin’s project pipeline and cost discipline as the miner accelerates global expansion in copper and gold.

Zijin Mining’s outlook has been raised from “stable” to “positive”. Photo: Shutterstock
Hong Kong property

‘Aggressive pricing’: Able Engineering tops titans’ bids in Hong Kong land sale

Able Engineering outperforms analyst forecasts to secure a residential parcel that can fit nearly 1,000 units, and the win is seen reflecting rising confidence in the sector.

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The Tung Chung New Town Development is seen in 2024. Photo: Jelly Tse
Artificial intelligence

AI | China’s tech giants look to rewrite the e-commerce playbook with AI agents

The nation’s over 900 million e-commerce users are taking part in an experiment where rigid search terms are replaced by natural dialogue.

Hong Kong property

6 bids for Hong Kong land sale signal renewed confidence despite market caution

Tung Chung site draws bids from major developers SHKP, Kerry and Sino Land, reflecting cautious optimism for the residential property market.

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Banking & finance

Investors bet CK Hutchison is exiting a mature sector at right time – once again

Disposal of VodafoneThree adds to Li family’s record of cycle-savvy moves, with investors weighing where war chest will flow next.

For decades, the Li family, which controls CK Hutchison, has built a reputation for exiting businesses near the top of market cycles, according to analysts. Photo: Sam Tsang
China property

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn.

Hong Kong property

The View | Hong Kong’s property recovery could be more robust than many think

A variety of local factors as well as shifts in geopolitics and global commercial real estate are working in Hong Kong’s favour.

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Electric & new energy vehicles

China’s move to cut EV payment cycles may push weaker carmakers out: S&P

China’s weaker EV makers may soon be running on fumes as tighter payment cycles squeeze cash flow and curb price wars.

Employees work on the production line at a factory for Chery’s electric vehicles in Wuhu, Anhui province, China. Photo: Reuters
Hong Kong property

What does an improved Hong Kong property outlook mean for land sales?

Land tenders may test market discipline due to risk of intense bidding, given Hong Kong’s pronounced property upcycles, S&P says.

Hong Kong’s property market has seen a gradual recovery in recent months. Photo: Jelly Tse
China property

Global banks bullish on China housing as inventory shrinks, policy support grows

The first 18 days of April saw primary home sale volumes across 30 key cities rise 3 per cent year on year: Bank of America data.

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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

The Tongzhou district outlet marks the furniture retailer’s pivot to compact formats as China’s property slump hits home-furnishing demand.

Ikea’s smaller stores focus on design services and curated product selections, rather than maintaining extensive on-site inventory, according to analysts. Photo: Handout
Banking & finance

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

Ratings agency gives China an A1 long-term rating, citing the economy’s resilience in the face of trade and geopolitical pressures.

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A pile of 100-yuan notes. Photo: Shutterstock
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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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.

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