CHINA'S largest rating firm yesterday reaffirmed that its bid for registration in the United States was justifiable and legal and said the US regulator's rejection of its application was discriminatory.

The US Securities and Exchange Commission declined an application by Dagong Global Credit Rating Co Ltd to become an officially recognized bond rater in the US. The SEC said it refused registration because it could not ensure the Beijing-based company would comply with US reporting rules.

"On the record before us, it appears that Dagong would not control what information would be produced to commission staff," SEC said. "We are unable to conclude that Dagong can comply with the record-keeping, production, and inspection requirements of the Exchange Act."

Dagong contended reporting rules are related to a nation's sovereignty, and should be coordinated between government regulators and not business entities.

Dagong said the reporting rules standard was "a barrier specifically set for Dagong, which is obviously discriminatory against China and the Chinese rating agency."

Dagong said that as the US's largest foreign debtor and owner of a significantamount of dollar assets, it was important that a Chinese agency had a say in the rating of US financial assets.

• yesterday [´jestədi] n.&ad.昨天；前不久 (初中英语单词)
• application [,æpli´keiʃən] n.申请；申请书；应用 (初中英语单词)
• unable [ʌn´eibəl] a.不能的；无能为力的 (初中英语单词)
• obviously [´ɔbviəsli] ad.明显地；显而易见地 (初中英语单词)
• amount [ə´maunt] n.总数；数量 v.合计 (初中英语单词)
• agency [´eidʒənsi] n.代理商；机构；代理 (初中英语单词)
• financial [fi´nænʃəl] a.金融的，财政的 (初中英语单词)
• commission [kə´miʃən] n.委任(状) vt.委任 (高中英语单词)
• inspection [in´spekʃən] n.检查；视察；参观 (高中英语单词)
• related [ri´leitid] a.叙述的；有联系的 (高中英语单词)
• barrier [´bæriə] n.栅栏；屏障；障碍 (高中英语单词)
• significant [sig´nifikənt] a.重要的；意义重大的 (高中英语单词)
• officially [ə´fiʃəli] ad.以职员身份；正式 (英语四级单词)
• comply [kəm´plai] vi.照做 (英语四级单词)
• sovereignty [´sɔvrinti] n.主权；君权 (英语四级单词)
• debtor [´detə] n.债务人；借方 (英语四级单词)
• registration [,redʒi´streiʃən] n.登记(证)；挂号 (英语六级单词)