APAC CreditCast

By Fitch RatingsBusiness News Politics

APAC CreditCast episodes

October 21APAC Data Centres: AI Demand, Power, and Credit Risks
AI and digitalisation are driving rapid data-centre investment across APAC. In this first episode of APAC CreditCast, we discuss demand, power and grid constraints, project execution, financing, and the key credit risks shaping the sector.
(00:00) - Introduction: APAC’s Data-Centre Growth Story
(01:15) - Demand Outlook: AI, Cloud and Digitalisation
(03:06) - Where Growth Is Concentrating Across APAC
(04:33) - From Pipeline to Delivery: What Determines Viability?
(06:17) - Credit Analysis: Cash Flows, Sponsors and Protections
(08:13) - Key Risks and Early Warning Indicators
(09:50) - Financing Trends and New Deal Structures
(10:28) - Conclusion: Deliverability Is the Key Differentiator
12 min
August 03China’s Next Growth Engine: EVs, AI, and Robotics?
Jeremy Zook and Ying Wang discuss China's 'new productive forces' strategy, focusing on EVs, AI, and robotics. They assess whether industrial upgrading can offset structural economic headwinds and support long-term growth.
(00:00) - Introduction and overview of China’s “new productive forces”
(00:47) - What are “new productive forces” and why do they matter?
(03:28) - Can industrial upgrading sustain China’s long-term growth?
(07:03) - EVs as a case study in China’s industrial transformation
(10:35) - AI, robotics and the next wave of industrial upgrading
(14:38) - Key indicators to watch for success
(17:19) - Closing remarks and new podcast announcement
20 min
May 19China’s Dominance in Global Rare Earths
Sabrin Chowdhury from BMI speaks on China’s dominance in global rare earths and implications on geopolitics and prices.
(00:00) - Introduction of Sabrin and her rare earths coverage
(01:27) - Why China dominates global rare earths supply chain
(03:31) - China’s dependence on Myanmar for heavy rare earth feedstock
(05:17) - Western economies’ supply chain diversification strategies
(09:00) - Potential credible alternatives to China
(10:09) - Obstacles to Western countries’ diversification push
(11:20) - China’s tightened grip and impact on prices
(13:05) - Indicators to watch on evolving trends
16 min
March 23China-US Strategic Competition in Latin America
This episode explores China’s economic linkages with Latin America (LatAm), with Fitch Ratings’ Todd Martinez and Janice Chong, and the implications of the resurgence of the US “Monroe Doctrine” on these economic ties and for Chinese corporates.
(00:00) - Introduction
(01:44) - Overview of China’s Economic Ties with LatAm
(05:34) - Outlook for the LatAm-China Trade Relationship
(09:05) - LatAm’s Response to Surging Chinese Imports
(12:53) - Risks to Chinese Corporates from Tariffs
(13:52) - Chinese FDI into LatAm
(16:55) - Key FDI Sectors for Chinese Firms in LatAm
(18:42) - Geopolitical Risks to Chinese Firms’ LatAm Investments
(20:10) - Opportunities and Risks for LatAm from US-China Competition
(23:37) - Conclusion
25 min
February 11China 2026 Credit Outlook
A fireside chat on Fitch’s 2026 credit outlook for China’s sovereign, corporate, local government and banking sectors with Jeremy Zook, Ying Wang, Samuel Kwok and Grace Wu.
(01:05) - Macro outlook
(06:05) - Deteriorating China property outlook
(06:58) - Neutral China LGFV outlook
(09:52) - China banks’ strategy amid deteriorating outlook
(11:32) - Anti-involution campaign
(13:41) - Local governments’ spending
(16:20) - China banks’ asset quality
(18:13) - China’s sovereign rating headroom
21 min
December 18, 2025An Update on China’s LGFV Debt Substitution Programme
Davis Sun, Senior Director at Fitch Ratings, provides a progress report on China’s debt substitution plan and its impact on local government vehicles (LGFVs) and finances, as well as an outlook for 2026 and beyond.
(00:23) - Introduction
(01:50) - Recent LGFV Sector Developments
(05:40) - Progress of the Debt Substitution Programme
(09:45) - LGFV Financial Health Amid Debt Substitution
(13:17) - Fiscal Impact of Debt Substitution on Local Governments
(16:00) - Lingering LGFV Debt Risks
(20:34) - Local Government Infrastructure Spending
(22:53) - 2026 Local Government Fiscal Outlook
(25:08) - Conclusion
27 min
November 19, 2025Price Wars in China’s Food Delivery and Instant Retail
Fitch analysts discuss intensifying competition between Meituan and Alibaba in China’s food delivery and instant retail business.
(00:22) - Introduction to instant retail in China
(01:19) - Competitive landscape and on-going price war
(02:54) - Meituan's strategy to defend market leadership
(05:18) - Alibaba's challenges and opportunities
(07:02) - Meituan's rating outlook change
(09:38) - Alibaba's profitability and free cash flow
(11:00) - How the price war could end
15 min
September 17, 2025China-ASEAN Trade Flows Amid Global Trade Policy Uncertainty
Chris Clague, an Associate Fellow at the IISS and an independent advisor on trade and supply chains, discusses recent trends in China-ASEAN trade and investment flows, and how they may be affected by US President Trump’s tariff policies.
(00:00) - Introduction
(02:04) - Overview of China/ASEAN trade and investment
(06:26) - Transshipments
(09:57) - Transshipment tariffs effect on China’s investment
(12:54) - China+1 strategy
(14:58) - Top destinations and sectors for Chinese investment
(17:35) - China’s role in global supply chains
(20:37) - How will ASEAN manage a surge in imports from China?
(24:13) - Conclusion
26 min
July 30, 2025Regulatory Reforms of China AMCs
Katie Chen, Senior Director at Fitch Ratings, and Franco Lam , Director, share their insights on the recent regulatory reforms in China’s AMC sector.
(00:48) - Recent regulatory reform and impact
(03:49) - Opportunities and challenges for AMCs
(07:01) - What investors should watch out for
(09:30) - Improvement in China AMCs’ capital buffer
(11:32) - China AMCs’ ownership changes
(13:54) - Rating actions on China AMCs
18 min
June 24, 2025Key Credit Themes in China’s Power Generation Sector
This episode explores key changes and credit trends in China’s power sector, including renewables growth and market reforms. Insights from Penny Chen, Senior Director, Fitch Ratings, reveal what lies ahead for major power generators.
(00:00) - Introduction
(00:45) - Key Changes in China’s Power Sector
(03:17) - Key Credit Themes for Power Generators
(06:16) - Credit Outlook on China’s Power Sector
(08:45) - China’s Modern Power System
(11:11) - Conclusion
12 min