China Tips Into Deflation; S&P Global Drops ESG Rating scheme

China’s consumer sector fell into deflation and factory-gate prices extended declines in July, as the world’s 2nd-largest economy struggled to revive demand and pressure level mounted on Beijing to release more direct policy stimulus.

S&P Global has the dropped ESG scale it launched in 2021. It was to score publicly rated companies on environmental, social and governance factors when assessing their credit lineament.

S&P Global, which is one of the world’s largest raters of corporate debt, said the decision would take effect “immediately”.