Unswervingly working hard and forging ahead is the true depiction of Dagong’s development history over the past two decades, which witnessed Dagong’s growth from a little-known rating agency to an emerging rating power with international inflence. Over the past 22 years, Dagong has chosen the right path, undertaken historic responsibility, promoted an international reform through exploring laws, innovating theories, and developing competitiveness. It is this unique ascent which has enabled Dagong to write a splendid chapter in history and mark the shifting of the world’s rating center from the West to the East.
Dagong’s 22-year developmental history can be divided into three stages
(1) 1994-2006 Exploration of the developmental path Major events:
a. Dagong initiated a threeyear technical cooperation with Moody’s;
b. Dagong published Rethinking China's Credit Rating Industry and determined its developmental path of developing the national brand through international expansion.
(2) 2007-2010 Dagong’s appearance on the international stage
a. The new rating criteria were published;
b. Credit ratings were assigned to 50 countries;
c. The sovereign credit rating for the United States was downgraded.
(3) 2011-2016 Undertaking historical responsibility
a. Dagong designed the method for building up China‘s social credit system;
b. Dagong promoted the reform of the international rating system;
c. Dagong discovered the laws governing credit-based economy, explored the laws governing credit ratings, innovated credit rating theory, and studied Western credit rating theory;
d. Dagong contributed to the building up of Asia’s credit system;
e. Dagong launched branches in Europe and Hong Kong;
f. Dagong built its core competitiveness;
g. Dagong built an early risk warning system and issued an Internet fiancé blacklist and warning list;
h. Dagong assigned Internet fiance ratings to large-scale foreign enterprises including Gazprom, Rosneft Oil, and VEB;
i. Dagong published its global infrastructure credit rating methodology;
j. The strategy of developing the national brand through international expansion grew to maturity.
For the past two decades, Dagong has adhered to the developmental path of following objective laws, complying with the needs of the times, bearing historical responsibility and growing into an emerging rating power in the global rating industry.
Dagong’s selection of the strategy of developing the national brand through international expansion and its 22-year history are the cornerstone of the Group’s development. The understanding of the laws governing the development of a credit-based economy, the development of theoretical knowledge, and leading edge thinking in the Internet age serve as a launching point for Dagong. Moreover, its credit industry cluster development mode will further render Dagong a signifiant contributor to our society.