The ratings on the Export-Import Bank of China (China EXIM) reflect the strong support from China's government (A/Stable/A-1), its sole owner, and the better-defined policy role for China EXIM going forward. The draft legislations for the policy banks, when enacted, are likely to clarify China EXIM's role, activities, prudential guidelines, and relations with the government. The ratings on China EXIM thus incorporate the expectation of strong government incentives to support such a strategic institution. The ratings also reflect China EXIM's key policy role in promoting export financing, and its position as China's conduit for foreign official funding for projects within the country, and for Chinese government concessional lending to other countries. China EXIM was established in 1994 as one of
