On July 20, 2005, Standard&Poor's Ratings Services revised the outlook on Export-Import Bank of China (China EXIM) to positive from stable. At the same time, Standard&Poor's affirmed the ratings on China EXIM at 'BBB+/A-2'. The outlook revision reflects the expectation that the bank will remain closely supported by the sovereign (China; A-/Positive/A-1). The ratings on China EXIM reflect the strong support from the sovereign, its sole owner, and the bank's policy role in promoting export financing. The ratings also reflect China EXIM's key role as the country's conduit for foreign official funding for projects within China, and for Chinese government concessional lending to other countries. China EXIM was established in 1994 as one of three policy
