Almost certain likelihood of extraordinary government support due to the critical importance of China Exim's policy role, and the bank's integral link with the government. Adequate business position. Substantially enhanced capitalization after a capital injection from the central bank. Still moderate capital and earnings due to fast credit growth in concessional lending. Moderate risk position. The stable outlook on the rating on Export-Import Bank of China (China EXIM) is in line with the outlook on the sovereign rating on China (AA-/Stable/A-1+; cnAAA/cnA-1+). Given the bank's integral link and critical role to the central government, future rating movements are likely to be linked to that on the sovereign. Having said this, we could lower the rating if the sovereign's willingness to
