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A stable component model is the precondition of a successful implementation of component-based system. High-quality components identification technology is considered as the basis of modeling business components. This paper proposes a new method of business component identification by using graph segmentation; the identification method focuses on three aspects: business modeling, semantic abstraction and identification algorithm. The simulation indicates that new identification method not only satisfies the quality requirement of higher cohesion and lower coupling between business components which will lower reuse costs, but also improves the reuse degree of it.