S&P Global Ratings assesses Qingdao Conson Development (Group) Co. Ltd. (QCD's) Social Finance Framework as aligned with Social Bond Principles, ICMA, 2025; and Social Loan Principles, LMA/LSTA/APLMA, 2025. Founded in 2008, QCD operates its municipality?s assets, including social infrastructure, public transportation, and fish farming in Qingdao city, Shandong province of China.