PBOC Deputy Governor Xuan Changneng Meets S&P Global President Martina Cheung

The readout is thin on specifics, but the composition of the meeting is the story: a senior PBOC official sitting down with the head of a major global ratings and data provider, with China's financial-sector opening explicitly on the agenda. For cross-border issuers, ratings agencies and index providers, that framing matters more than the discussion itself, since S&P's China footprint touches credit assessment and market access. Whether such engagement translates into concrete changes in how foreign rating and data firms operate onshore is the open question to watch.