On July 27, 2005, Standard&Poor's Ratings Services raised its long-term credit rating on Export-Import Bank of China (China EXIM) to 'A' from 'A-'. The outlook is stable. The rating upgrade reflects both our expectation that China EXIM will receive close support from the sovereign (China; A/Stable/A-1), and the better-defined policy role for the bank as outlined during our discussions with the government and regulators, and from which we can conclude that China EXIM will remain a key development and public policy institution in China. When enacted, the draft legislations for the policy banks--including China EXIM--are likely to clarify China EXIM's role, activities, prudential guidelines, and relations with the government. The ratings on China EXIM also reflect the expectation
