China Development Bank

This report does not constitute a rating action. Overview Key strengths Key risks Critical policy role in development finance and integral link with the China government. Exposure to China's lower-average income population. Record of support from the government and the central bank. The stable rating outlook on China Development Bank (CDB) is in line with the outlook on the sovereign credit rating on China (A+/Stable/A-1). The stable rating outlook reflects our view that CDB will continue to fulfil its policy function in development finance while remain tightly controlled by the government over the next two years. Future rating transitions of CDB will move in tandem with the sovereign. We may lower the rating of CDB if we downgrade China. This

...Key strengths Key risks Critical policy role in development finance and integral link with the China government. Exposure to China's lower-average income population. Record of support from the government and the central bank....

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