[Moody's Ratings Upgrades the Ratings of Four Leading Brokers] On October 6, Moody's Ratings recently raised the long-term issuer ratings of four brokerages from Baa1 to A3. The four securities firms are: CICC, CICC International, CITIC Securities and Cathay Haitong Securities. In addition, a few days ago, the international rating agency S&P raised the rating of China's securities industry. Moody's Ratings said the rating actions on the above brokers reflected Moody's belief that these companies have an increased likelihood of receiving official support if necessary. These companies are increasingly strategically important to China in achieving national economic and financial policy goals, and play an important role in the operation and development of China's capital markets. Many leading brokerages responded to this. CITIC Securities stated that it will take this rating upgrade as an opportunity to further expand overseas financing channels, reduce cross-border capital costs, continue to enhance international credibility and brand influence, accelerate the construction of first-class investment banks and investment institutions, continue to empower the real economy, and help build a financial power. (Securities Times)