Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of China Banking Corporation (CBC) at 'BB+', and its Viability Rating at 'bb+'.

The Outlook is Negative. Concurrently, Fitch has chosen to withdraw the ratings of CBC for commercial reasons.

Fitch has chosen to withdraw the ratings of CBC for commercial reasons.

KEY RATING DRIVERS

There has been no material change in CBC's credit profile since the previous rating action on 12 October 2020. For more information on the drivers of CBC's ratings, please see 'Fitch Affirms China Banking Corporation at 'BB+'; Outlook Negative' at www.fitchratings.com/site/pr/10138600 and the credit report 'China Banking Corporation' published on 2 November 2020, at www.fitchratings.com/site/re/10140098

RATING SENSITIVITIES

Rating sensitivities are not applicable as ratings have been withdrawn.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit [https://www.fitchratings.com/site/re/10111579]

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg

RATING ACTIONS

ENTITY/DEBT	RATING		PRIOR
China Banking Corporation	LT IDR	BB+ 	Affirmed		BB+
LT IDR	WD 	Withdrawn		BB+
LC LT IDR	BB+ 	Affirmed		BB+
LC LT IDR	WD 	Withdrawn		BB+
Viability	bb+ 	Affirmed		bb+
Viability	WD 	Withdrawn		bb+
Support	3 	Affirmed		3
Support	WD 	Withdrawn		3
Support Floor	BB 	Affirmed		BB
Support Floor	WD 	Withdrawn		BB

VIEW ADDITIONAL RATING DETAILS

Additional information is available on www.fitchratings.com

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