SPGI · News · 20260903N

China Credit Ratings Risk

S&P Global Inc. · 2026-09-03 · Importance 37 · Surprise 42

S&P Global Ratings warned that China’s domestic bond market has accumulated risks from overly generous credit ratings, particularly as Beijing seeks to attract foreign issuers. The concerns apply to China’s 37 trillion yuan credit-bond market, where top-tier ratings are more concentrated than global norms. Chinese authorities are urging rating agencies to improve rating quality and reduce the prevalence of AAA ratings, creating potential regulatory and methodology pressure for S&P Global Ratings in China.

Key facts

• S&P Global Ratings warned that China's booming bond market is accumulating risks due to overly generous credit ratings and noted a 37 trillion yuan credit bond market. source