We continue to view BII as having an almost certain likelihood of receiving timely and sufficient extraordinary government support if needed, based on its high importance and close link with the Beijing municipal government. We expect BIIHK to remain a highly strategically important subsidiary of BII, given that BIIHK primarily serves the group's offshore funding activities. We are affirming our 'A+' long-term corporate credit rating on BII and our 'A' long-term corporate credit rating on BIIHK. The stable outlook on BII reflects our view of the credit profile of the Beijing municipal government. The stable outlook on BIIHK reflects the stable outlook on BII. On Dec. 20, 2016, S&P Global Ratings affirmed its 'A+' long-term corporate credit rating on Beijing
