China’s steel market is not collapsing despite the property downturn. Instead, demand is stabilising at a lower level as manufacturing, exports and new energy sectors gradually replace construction-driven demand. This is not a demand collapse, it’s a structural shift from property to industrial and export-driven demand. What’s Really Happening The sharp drop in construction activity has clearly hurt steel demand: Property-related steel (like rebar) has fallen significantly Construction’s share of demand is shrinking But the broader market tells a different story: Total steel demand is only slightly below past peaks Manufacturing, shipbuilding and energy transition sectors are absorbing demand Exports are acting as a key buffer Instead of a sudden crash, the industry is entering a long plateau . Why This Matters The market had expected a sharp collapse but reality is more gradual: Demand is declining slowly, not falling off a cliff China is shifting from construction-led growth to ...
Chinese IT Firm Picks Banks for Second Listing Amid China’s Market Shift Unisplendour Corp, a Beijing-based IT services provider, is planning a second listing in Hong Kong to raise around US$1 billion (RM4.42 billion) to fuel its overseas expansion. BNP Paribas SA, China Merchants Bank International, and CSC Financial Co have been tapped as lead banks for the offering, with more banks potentially joining the deal. The company confirmed it is exploring equity financing in Hong Kong but has not finalized the plan or a listing timeline. China’s IPO Shift to Hong Kong Chinese firms are increasingly turning to Hong Kong for capital as China limits domestic stock sales to stabilize its equity market. Other major Chinese companies seeking Hong Kong listings include: Contemporary Amperex Technology Co Ltd (CATL) – the world’s largest battery maker Jiangsu Hengrui Pharmaceuticals Co – a major drugmaker Foshan Haitian Flavour...