Dagong Global Credit Rating Co.,Ltd., a leading rating agency in China, today issued its newly development rating methods for the capital market in cooperation with Moody's Investors Service, one of the world's leading rating agencies.

Guan Jianzhong, the chief executive of Dagong, said the new method is the first in China that combines Moody's rating method with the situation in China, which has now developed a transitional economic system and an emerging capital market.

The new method incorporates as much as possible from international practices in applying credit ratings to eight sectors of the economy, including banking, insurance, securities, highways, railways, petrochemicals, and housing, he said.

The new method is part of an agreement reached last July between Dagong and Moody's, under which the two are expected to form a joint credit-rating venture in the future.

The two companies will continue their cooperation in tailoring new rating methods to other sectors of the economy, A Dagong official added. (Xinhua)