Almost certain likelihood of extraordinary government support due to the bank's policy-oriented role. Critical importance to, and integral link with, the Chinese government. Preferential treatment on capital requirements, and zero-risk weights on issued bonds. Moderate financial profile highlighted by weak profitability as a result of the bank's policy role. Reliance of wholesale funding. The stable outlook on The Export-Import Bank of China (CEXIM) for the next two years reflects the outlook on the sovereign credit rating on China (A+/Stable/A-1). Given CEXIM's integral link and critical role to the government, the rating on the bank will likely be linked to that on the sovereign. We could lower the rating if the sovereign's willingness to support the bank declines. We believe this
