After five-year’s preparation, Dagong Global Credit Rating Co. Ltd. (hereinafter referred to as “Dagong”) was established in 1994 and has gone through the Preparation Period (from 1989 to 1994), Startup Period (from 1994 to 1997), and Growing Period (from 1998 to 2001), and entered the developing period since 2002.

Preparation Period (from 1989 to 1994)

February 1989: Mr. Liu Jizhong, the famous Chinese audit expert, planed to establish a credit rating company in Shenzhen, but it was suspended by the June Fourth Incident.

Start-up Period (from 1994 to 1997)

March 1994: Dagong Global Credit Rating Co., Ltd., is registered at State Administration for Industry and Commerce.
May 1994: Dagong operated at Beijing Tianlun Dynasty Hotel. Meanwhile, Dagong Expert Committee was established with Mr. Liu Guoguang, former Vice President of China Academy of Social Sciences and famous economist, as the Director.

Growing Period (from 1998 to 2001)

March 1998: Yanzhou Coal Mining Co., Ltd., included its credit rating assigned by Dagong into the prospectus in the American market, the first time to bring a Chinese credit rating agency’s name into international capital markets.

Developing Period (from 2002 to present)

January 2002: Dagong proactively performed credit ratings on thirteen Chinese-funded insurance companies.

June 2002: Dagong proactively performed credit ratings on fourteen domestic commercial banks.