The issuer credit rating on the Export-Import Bank of China (China EXIM) is aligned with the sovereign credit rating on the People?s Republic of China (A+/Stable/A-1+). This reflects Standard&Poor's expectation of strong support from the Chinese central government and the importance of the bank's policy role. China EXIM is one of three policy banks wholly owned by the central government. Apart from the central bank, the People's Bank of China (PBOC), the policy banks are the only financial institutions that are directly responsible to the State Council, China's highest executive organ. The central government guides strategic decisions of these institutions, although they enjoy relative autonomy in their project evaluation and approval processes. The China Banking Regulatory Commission applies
