尽管中美贸易对峙局势升级对消费者信心构成压力，但政府推出的强力促消费措施仍有望支撑中国汽车零售市场在2025年实现低个位数百分比增长。

Generous consumer incentives are likely to support low-single-digit growth in China’s retail auto market in 2025, despite increasing pressure on consumer sentiment from heightened US-China trade tensions.

Mass deportations could have a materially negative impact on the domestic labor supply, which affects the operating and financial performance of some corporate, public finance and global infrastructure issuers.

From global macroeconomic trends to sovereign credit developments to regulatory and political changes, Fitch’s Fixed Interests podcast delivers the analyst insights and updates you need to stay ahead in a rapidly evolving market.

Fitch believes that the Reserve Bank of India’s draft regulations for gold-backed loans offer greater clarity to market participants.

Shelly Shetty, Managing Director, Americas Sovereigns and Todd Martinez, Senior Director, Sovereigns, discuss Mexico’s recent rating affirmation, and how the sovereign is navigating global trade tensions and domestic fiscal challenges.

Alternative investment managers (alt IMs) are increasingly penetrating the private wealth channel, which will drive long-term growth in assets under management (AUM) but also introduce risks.

North American airlines are facing a period of softer demand concentrated in U.S. domestic leisure travel as consumers pull back on discretionary spending, with Fitch now expecting revenue passenger miles to be flat to modestly down in 2025.

Harry Hu, Senior Director at Fitch Ratings, discusses China's recent efforts to manage LGFV risks, including LGFV reclassification and debt substitution plans, along with local government debt trends.

惠誉评级认为，尽管全国新建商品住宅市场于近期有所回暖，但该市场或面临人口结构变化、未售库存高企和购房者住房支付能力较低等结构性痼疾所带来的持续性挑战。一线城市住宅销售复苏初现，但可持续性仍有待观察。此外，惠誉预期首批专项债资金可能主要用于从城投及国有地产企业回购土地，短期内对民营房企资产负债表的潜在正面影响可能有限。