China Perspectives

China Perspectives

Follow China Perspectives
Share on
Copy link to clipboard

China Perspectives series is a monthly discussion on the latest credit market and economic developments from China with experts from both within and outside of Fitch Ratings.

Fitch Ratings


    • Apr 3, 2025 LATEST EPISODE
    • monthly NEW EPISODES
    • 23m AVG DURATION
    • 41 EPISODES


    Search for episodes from China Perspectives with a specific topic:

    Latest episodes from China Perspectives

    Impact of US tariffs on China's commodity sectors

    Play Episode Listen Later Apr 3, 2025 13:08


    Laura Zhai, Senior Director at Fitch Ratings, discusses the impact of US tariff hikes on China's commodity sectors.(00:00) - Introduction (00:41) - Impact on aluminum and copper (04:43) - Impact on steel (07:33) - Impact on chemicals (10:28) - China's energy import cost

    China's Tariff Challenges Rising Rapidly

    Play Episode Listen Later Mar 6, 2025 19:49


    Amid rapidly changing US trade policies, Fitch analysts, Alex Muscatelli and Janice Chong, discuss the macroeconomic and corporate level impacts on China from rising US tariffs.(00:00) - Introduction (02:10) - Fitch's Tariff Baseline (04:30) - Modeling the Economic Impact of Tariffs (07:12) - China's Trade Diversification (08:55) - Tariffs and China's Economic Outlook (11:01) - Corporate Sector Tariff Exposures (13:30) - Mexico Tariffs and Chinese Corporates (14:55) - Steel, Aluminum and Auto Tariffs (16:48) - Corporate Tariff Risk Management (17:39) - Impact on Shifting Supply Chains (18:45) - Conclusion

    China 2025 Credit Outlook

    Play Episode Listen Later Feb 7, 2025 18:07


    A fireside chat on Fitch's 2025 credit outlook for China's sovereign, corporate, local government and banking sectors with Jeremy Zook, Ying Wang, Samuel Kwok and Grace Wu.(00:00) - Introduction (00:47) - Macro and Sovereign Outlook (03:33) - Impact of US Tariffs on China Corporates (04:55) - Property sector outlook (05:53) - Impact of Policy Simulus on Corporates (07:10) - Local Government Finance Outlook (08:36) - Hidden Debt Substitution Policy (10:40) - LGFV Sector Risks (12:40) - Impact of Rate Cuts on Banks (15:24) - Asset Quality Outlook (17:21) - Conclusion

    A Perspective on China's 2025 Macro Outlook

    Play Episode Listen Later Jan 7, 2025 34:38


    Jinny Yan, Chief China Economist at ICBC Standard Bank, discusses her outlook for China's economy in 2025 and the government's policy measures and priorities, particularly its focus on de-risking, diversifying and enhancing domestic capacity.(00:00) - Introduction (01:01) - Key Issues to Watch in 2025 (02:32) - US/China Trade War Prospects (06:29) - Assessing China's Resilience to Trade Tensions (11:12) - Property Sector (17:11) - Inflation/Deflation Outlook (20:13) - Monetary Policy Response (23:57) - Fiscal Policy Response (28:27) - Government Bond Market Drivers (33:39) - Conclusion

    China's Solar PV Manufacturing Industry

    Play Episode Listen Later Dec 5, 2024 18:42


    Jing Yang, Director of Fitch Ratings, discusses key credit trends of China's solar PV manufacturing industry.  (00:00) - Introduction (00:46) - Current state of the industry and reason for oversupply (04:37) - Stage of market re-balancing (08:00) - Effectiveness of government response (13:02) - Impact of Trump 2.0 tariff hikes

    Will China's Stepped-Up Stimulus Push Off Deflationary Risks?

    Play Episode Listen Later Oct 23, 2024 32:54


    David Wang, Professor at the Virginia Tech Dept. of Economics and former Credit Suisse Head of APAC (ex-Japan)Economics, joins us to discuss deflationary risks in the Chinese economy and whether the recent policy stimulus can address these pressures.(00:00) - Introduction (01:31) - China's Economic Prospects (05:10) - Drivers of deflationary pressures (08:37) - Expectations for household confidence (11:11) - New productive forces and labour productivity (15:46) - Assessment of Recent Policy Actions (17:37) - Fiscal Support and Consumption Policies (26:16) - Risks of a deflationary spiral (29:09) - High Leverage and deflation (32:12) - Outro

    Recent Trends in China's Banking Sector

    Play Episode Listen Later Oct 2, 2024 16:30


    Elaine Xu, Director in Fitch's Financial Institutions team, provides an update on how Chinese banks are managing the challenges from economic headwinds, the property correction, and LGFV debt renegotiations.(00:00) - Introduction (01:38) - Recent trends in bank performance (05:06) - Property sector stress impact on banks (07:26) - Banks role in property policy response (09:26) - LGFV exposures and debt renegotiations (11:16) - Impact of LGFV debt renegotiations (13:01) - Risks for small regional banks (14:33) - Banks increased policy role and its impact (15:40) - Conclusion

    China's Local Government and LGFV Debt Risk

    Play Episode Listen Later Aug 30, 2024 17:43


    Samuel Kwok, Head of Fitch's APAC International Public Finance shares his views on China's local government and LGFV debt problem.(01:21) - 1H24 local governments' fiscal trends (04:02) - Expect marginal improvement in 2H24 (05:30) - Effect of measures to de-risk twelve “high-risk” provinces (08:22) - LGFVs' onshore bond yields at record low (11:28) - Introduction of top three credit themes (12:25) - Potential impact of reform measures pledged by Third Plenum (14:21) - The second credit theme on social housing investment (15:17) - The third credit theme on LGFV debt restrictions (16:32) - Maintain a neutral credit outlook

    China's Housing Demand Forecast 2024 - 2040

    Play Episode Listen Later Aug 8, 2024 15:11


    Shuncheng Zhang, Associate Director of Fitch's China Corporates Team based in Shanghai, shares China's housing demand forecast from 2024 to 2040.(00:00) - Introduction (01:05) - 2024-2040 Housing Demand (03:43) - New Private Home Supply (06:08) - Overview of Forecast Model (09:13) - Factors Leading to Demand Plunge (12:47) - Public and Secondary Housing Supply (13:58) - Fitch's Forecast vs. Others'

    China Mid-Year Credit Update

    Play Episode Listen Later Jul 3, 2024 14:16


    Lan Wang, Senior Director in Fitch's Credit Policy Group, joins for a wide-ranging discussion on China credit developments, including recent rating actions, growth prospects, property and banking sector outlooks, and recent EU tariffs on Chinese EVs.(00:00) - Introduction (00:55) - China Sovereign Rating Action (01:48) - Rating actions in other Chinese entities (04:40) - 2024 Macro Outlook for China (06:12) - Property Sector Prospects (08:42) - Banking Sector Outlook (10:58) - EU tariffs on Chinese EVs

    China's Changing Role in Global Commodity Market

    Play Episode Listen Later May 27, 2024 12:08


    Henry Hao, Principal Economist at CRU, discusses structural shifts of China's role in the global commodity market.

    China's Coal Mining Industry

    Play Episode Listen Later Apr 25, 2024 9:20


    Wei Yu, Director of Fitch Ratings, discusses key credit trends of China's coal mining industry.(00:00) - Introduction (00:34) - View on coal prices (02:00) - Debt reduction (03:21) - Financial burden and structural challenges (06:10) - Financing conditions (07:23) - Energy transition risks

    China-ASEAN Trade Trends

    Play Episode Listen Later Apr 2, 2024 26:39


    Dr. Deborah Elms, Head of Trade Policy at the Hinrich Foundation, discusses China-ASEAN trade ties focusing on key policy issues, supply chain diversification trends, and the outlook for the trade relationship amid rising geopolitical risks.(00:00) - Introduction (04:43) - China-ASEAN Trade Trends (07:02) - Impact of RCEP (09:34) - Trade Policy Outlook (13:50) - China's View of ASEAN Trade Relationship (16:26) - China's Bilateral Surplus with ASEAN (19:43) - Shifting Supply Chains and Navigating US-China Trade Tensions (24:17) - How is China Protecting its ASEAN Trade Relationship from US-China Trade Tensions?

    China's Big Four National Asset Management Companies

    Play Episode Listen Later Mar 20, 2024 20:36


    Katie Chen, Senior Director of Fitch Ratings, discusses key credit trends of China's Big Four national asset management companies.  (00:00) - Introduction (01:30) - National AMCs' evolving risks (04:35) - 2024 sector credit outlook (06:49) - Government support stance (10:08) - Differentiation in government export (11:37) - National AMCs' policy role (14:06) - Change of ownership (16:44) - Rating action plan

    China's 2024 Credit Outlook

    Play Episode Listen Later Feb 6, 2024 21:04


    Jeremy Zook and Ying Wang, co-hosts of China Perspectives podcast, hold a fireside chat about China's 2024 credit outlook. (00:00) - Introduction (00:45) - 2024 macro view (02:53) - Property sector outlook (04:29) - Policy response (07:17) - Infrastructure investment growth (08:41) - Sovereign rating pressure (11:10) - LGFV sector outlook (13:31) - Corporate sector outlook (16:21) - Banking sector outlook (19:11) - Key things to watch out for

    Chinese Corporates' Role in Global Supply Chain Diversification

    Play Episode Listen Later Dec 21, 2023 23:56


    Flora Zhu, Director in Fitch's Corporate Research team in Beijing discusses shifting FDI and trade patterns by Chinese corporates in the context of global supply chain diversification.(00:00) - Introduction (01:49) - Drivers of Outbound FDI (03:48) - Key FDI Destinations (06:04) - Sectors Driving Outbound FDI (08:39) - Outlook for Outbound FDI (10:29) - China's Shifting Trade Patterns (12:53) - Intermediate Goods Exports (14:36) - Outlook for Chinese Firms' Role in Global Supply Chains (16:52) - Geopolitical Risks (20:09) - Rating Implications for Chinese Corporates (22:25) - Conclusion

    Can China's Property Market be Revived?

    Play Episode Listen Later Nov 23, 2023 16:55


    Tyran Kam, Senior Director and Head of Fitch's China Property team based in Hong Kong, shares outlook on the Chinese property market. (00:00) - Introduction (00:47) - Current market state (04:04) - Comparison of China's and Japan's property markets (08:24) - Further policy move (09:26) - Who are the surviving developers (12:15) - Private developers' financing access (13:50) - Defaulted developers' debt restructuring

    China ESG Update: Green Bond and Carbon Markets

    Play Episode Listen Later Nov 1, 2023 21:19


    Jingwei Jia, Associate Director at Sustainable Fitch, discusses the latest developments in China's rapidly evolving onshore green bond market and the impact of the EU's Carbon Border Adjustment Mechanism on China's national carbon market.(00:00) - Introduction (01:42) - Overview of Sustainable Fitch (02:53) - Developments in China's Green Bond Market (07:33) - Green Bond Market Performance and the “Greenium” (09:26) - Key Investor Concerns for Green Bonds (12:54) - China's Carbon Market after the EU Carbon Border Adjustment Mechanism (17:07) - Other Domestic Carbon Market Developments (20:27) - Conclusion

    China Perspectives Welcomes a New Host

    Play Episode Listen Later Oct 18, 2023 0:56


    Jeremy Zook, Fitch Ratings' lead sovereign analyst for China, is joining China Perspectives as a co-host. Prior to this role, he was the lead analyst for several countries in APAC. Jeremy's first show is coming up soon. Stay tuned.

    Chinese Construction Companies' Business Transformation

    Play Episode Listen Later Sep 28, 2023 24:31


    Charles Zhang, Director of Fitch's China industrial corporates team, shares his insights on the risks and opportunities for Chinese construction companies amid the country's economic slowdown, including structural challenges and transition plans.(00:00) - Introduction (01:05) - Credit outlook on China's construction sector (06:21) - Growth opportunities from infrastructure projects (09:39) - Construction companies' transition strategy (13:00) - Long-term structural challenges (18:34) - Overseas opportunities (23:35) - Closing

    China's Electric Vehicles Boom

    Play Episode Listen Later Aug 1, 2023 19:03


    Jing Yang, Director of Fitch's China Research Initiatives based in Shanghai, shares insight on China's booming electric vehicles industry and Chinese automakers' overseas diversification trends.  (00:00) - Introduction (01:18) - Growth drivers of China's EV Market (05:45) - EV price wars (07:59) - Chinese EV brands' competitive edge (09:53) - Can foreign and JV brands catch up? (11:02) - Evolving competitive landscape (14:00) - China's EV exports (16:10) - Risks of Chinese automakers' overseas strategy

    An Industry Veteran's Perspective on China's Real Estate Market and Economy

    Play Episode Listen Later Jun 30, 2023 31:08


    James MacDonald, Senior Director and Head of China Research at Savills based in Shanghai, shares first-hand experience and observations on the country's residential, commercial, and industrial real estate markets. Through his professional lens as an 18-year industry veteran, James discusses the key structural changes in China's real estate market and the broader economy. (00:00) - Introduction (02:00) - China's residential market condition (03:27) - Policy direction and stimuluses (07:15) - China's commercial property market condition (10:42) - Oversupply risk in commercial property (14:00) - Investment trends in the office market (16:22) - Multinational companies' China strategy shift (20:36) - China's consumer market outlook (23:01) - “New Economy” real estate assets (25:48) - Growth potential for C-REITs (30:20) - Closing Remarks

    China's Economy and Bond Market

    Play Episode Listen Later May 8, 2023 31:23


    Alvin Cheng, Head of Fixed Income, Portfolio Manager at Fidelity International's China WOFE, shares his views on China's economic prospects in 2023 as well as risks and opportunities in the world's second largest bond market. (00:00) - Introduction (01:38) - China's macroeconomic outlook and key investment themes in 2023 (04:05) - Potential risks to China's recovery (06:09) - Deflation and inflation risks (09:25) - China's bond market opportunities for foreign asset managers (14:55) - Challenges for increasing credit exposure (19:18) - Improvement in credit risk pricing (21:49) - Market inefficiencies and structural challenges (23:34) - Fidelity's approach to investing in LGFVs (27:48) - Corporate credit risk in 2023 (29:55) - Closing remarks

    China's Consumption Recovery Prospects

    Play Episode Listen Later Mar 30, 2023 22:38


    Jenny Huang, Deputy Head of China Research Initiatives at Fitch Ratings, shares her views on China's consumption recovery prospects, including stimulus for growth, constraints, consumer behaviour changes, and implications for related companies.(00:00) - Introduction (01:15) - China's consumption recovery prospects (06:45) - Wage inflation risk (08:34) - Sub-segments' performance (14:11) - Changing consumer behaviour (16:52) - E-tailing sector's competitive landscape (20:35) - Consumption-led import demand

    China's Post-Pandemic Economic Recovery

    Play Episode Listen Later Mar 13, 2023 31:21


    Gene Ma, Head of China Research at the Institute of International Finance, shares his views on China's 2023 macro outlook, including prospects for growth, consumption, inflation, and the top priorities for economic policymakers this year.

    China's Long-Term Growth Prospects

    Play Episode Listen Later Jan 31, 2023 33:41


    Dominik Peschel, head of the Economics Unit at the Asian Development Bank's Resident Mission in Beijing, discusses the bank's recent working paper on China's long-term growth prospects and their suggested reforms to increase potential growth.

    Macao Gaming – An Elusive Recovery

    Play Episode Listen Later Sep 29, 2022 37:44


    Colin Mansfield, Sector Head for US Gaming, Lodging & Leisure at Fitch Ratings, positions Macao's elusive gaming recovery within a broader global industry backdrop, and sheds light on the recent tenders for Macao's new gaming concessions.

    China Macro Update – Property, Jobs, and COVID

    Play Episode Listen Later Aug 26, 2022 30:51


    Dan Wang, chief economist at Hang Seng Bank China, gives her latest views on the Chinese economy, with a focus on the property and labour markets, as well as the ongoing macro spillovers from the “zero Covid” policy.

    How Does the Chinese Government Decide Whether to Support Firms in Distress?

    Play Episode Listen Later Jul 29, 2022 25:13


    Jenny Huang, a senior director leading Fitch Ratings' China corporate research team, discusses the key motivations and methods the Chinese authorities employ to support companies in financial distress, drawing from recent case studies.

    How is the Omicron Outbreak and War in Ukraine Impacting China's Economy and Policy Outlook?

    Play Episode Listen Later Apr 28, 2022 30:55


    Long Chen, co-founder and partner at Plenum, weighs in on the “dynamic zero Covid” debate and shares his views on how the Omicron outbreak and global spillovers from the war in Ukraine are impacting China's economy and policy outlook.

    A Farewell Conversation with Tara Joseph, President of the American Chamber of Commerce in Hong Kong

    Play Episode Listen Later Mar 28, 2022 30:56


    Tara Joseph, President of the American Chamber of Commerce in Hong Kong, shares some parting reflections on Hong Kong's evolving business climate, rule of law, Sino-US tensions, and the future of the territory as a global financial hub.

    What's Next for China's Beleaguered Property Developers?

    Play Episode Listen Later Mar 7, 2022 24:40


    Adrian Cheng, Fitch Ratings' Co-Head of Greater China Property, shares his latest thoughts on China's residential sales and construction trends, and highlights the continued funding and liquidity challenges faced by the nation's developers.

    A Conversation with the Honourable Paul Chan, Financial Secretary of Hong Kong SAR

    Play Episode Listen Later Jan 27, 2022 33:45


    The Honourable Paul Chan Mo-po, Financial Secretary of the Hong Kong Special Administrative Region discusses fiscal policy, housing, geopolitics, and his near-term outlook for the economy and cross-border travel amid a recent omicron outbreak.

    Are Chinese Banks Becoming Safer?

    Play Episode Listen Later Nov 8, 2021 22:04


    Grace Wu, Fitch's Head of Greater China Banks, discusses the impact of China's ongoing property sector stress on the financial system, and gives her top-down view on how the balance of financial risks stands today compared with several years ago.

    Is China Facing a Property Bubble?

    Play Episode Listen Later Oct 8, 2021 32:42


    Jonathan Anderson, co-founder of Emerging Advisors Group, discusses the importance of the property sector to China's economy, whether the nation is facing a property “bubble”, and potential lessons from the ongoing China Evergrande saga.

    Financing China's SMEs with Charles Li

    Play Episode Listen Later Aug 26, 2021 32:01


    Charles Li, former Chief Executive of HKEX, discusses the importance of SMEs to China's economy, how to enhance their access to financing, and the nation's evolving regulatory environment in the context of his new venture, Micro Connect.

    The Birth and Growth of Bond Connect

    Play Episode Listen Later Aug 2, 2021 33:18


    Julien Martin, General Manager for Bond Connect, offers insights into China's onshore bond market trends, the trajectory of capital market reforms, and the origins and key innovations behind the Bond Connect scheme.

    A Discussion with the World Bank

    Play Episode Listen Later Jul 13, 2021 31:14


    Sebastian Eckardt, the World Bank's Lead Economist for China, Mongolia, and Korea, discusses the bank's latest China Economic Update, with insights into the growth and inflation outlook, financial risks, income inequality, and poverty alleviation.

    China's Decarbonization Ambitions

    Play Episode Listen Later May 31, 2021 29:32


    In our second episode, Mervyn Tang, Fitch's Global Head of ESG Research, discusses electric vehicles, the new national emission trading scheme, and the potential credit implications of China's evolving environmental policy landscape.

    Chinese Corporate Defaults

    Play Episode Listen Later Apr 30, 2021 27:07


    In the inaugural episode, Ying Wang, Head of Fitch's APAC Energy & Utilities Group and Fitch's China Research Initiative, discusses China's onshore bond market, the latest wave of SOE defaults, and what to expect in 2021 and beyond.

    Fitch Presents "China Perspectives"

    Play Episode Listen Later Mar 28, 2021 1:09


    Join Ying Wang, Fitch's Head of China Research Initiative and APAC Energy & Utilities Group, on China Perspectives, when she speaks to experts both within and outside of Fitch Ratings on the latest credit market and economic developments from China.

    Claim China Perspectives

    In order to claim this podcast we'll send an email to with a verification link. Simply click the link and you will be able to edit tags, request a refresh, and other features to take control of your podcast page!

    Claim Cancel