Strong public policy role Ownership and financial support extended by the sovereign Lack of explicit guarantee by sovereign Significant banking industry risk in China The ratings on the Export-Import Bank of China (China EXIM) reflect the strong support from China's government (A/Stable/A-1), its sole owner, and the better-defined policy role for China EXIM going forward. The draft legislations for the policy banks, when enacted, are likely to clarify China EXIM's role, activities, prudential guidelines, and relations with the government. The ratings on China EXIM thus incorporate the expectation of strong government incentives to support such a strategic institution. The ratings also reflect China EXIM's key policy roles in promoting export financing, as well as being China's conduit for foreign official
