There are many ways of classifying Chinese Dragons. One system goes by their color, and another is determined by their tasks.
Color
Black dragons symbolize the north, and create storms by battling in the air.
Blue dragons symbolize the east, and are a sign of spring.
Red dragons symbolize the west, and are associated with summer.
White dragons symbolize the south, and are a sign of death or famine.
Yellow dragons are secluded and revered. They convey prayers to the gods.
Tasks
Tianlong, (Heaven Dragon), pulls the chariots of the gods and guards their palaces.
Shenlong, (Spirit Dragon), controls the wind and rain. Offerings are made to him for good weather.
Fucanglong, (Dragon of Hidden Treasures), guards metals and jewels. When he rises from the earth to report to Heaven, a volcano is created.
Dilong, (Earth Dragon), controls rivers. In the spring, it lives in Heaven, and in autumn, under the sea.
Yinglong, (Winged Dragon), is the powerful servant of Emperor Huang Di. It is said that Yinglong stopped Yellow River from overflooding by creating channels with his tail.
Jiaolong, (Horned Dragon), resides in the sea and controls floods.
Panlong, (Coiling Dragon), lives in lakes.