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Guo Wenqing Meets with President Wang Zuji of China Construction Bank

On October 25, Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman met with Wang Zuji, President of China Construction Bank (CCB). At the meeting, the two sides exchanged views on further strengthening cooperation.

Mr. Guo welcomed Wang Zuji, thanked CCB for its long-term support for China Minmetals and MCC, and briefed on the history of China Minmetals and MCC, two of global top 500 enterprises, and the development after the implementing the strategic recombination. Guo pointed out that China Minmetals, guided by the goal of “three steps and two doublings,” has steadily improved its operation scale and reached a record high in economic benefits year on year, showing a sign of soundness and better quality in steadiness. China Minmetals’ assets amount to RMB1.68 trillion. With 200,000 employees on duty, China Minmetals, the only state-owned capital investment company in China's metals and minerals industry, undertakes the mission of providing its homeland with sufficient metal resources. It has been committed to building itself into a world-class metals and minerals corporation ranking No. 1 in China. Guo presented that China Minmetals is now building a business system featured by “four beams and eight columns” regarding metal mining, metallurgical construction, trade logistics, and finance and real estate. In the field of metal mining, China Minmetals possesses rich mineral resources including copper, nickel, lead, zinc, and lithium in Hunan, Guizhou, and Qinghai at home and other countries such as Australia, Papua New Guinea, Peru, and Pakistan. In the field of metallurgical construction, MCC serves as a pioneer and a new force in China’s steel industry, making up 90% and 60% of the share of domestic and global metallurgical construction markets, respectively. Therefore, it is one of China’s national teams for metallurgical construction. In the field of trade logistics, China Minmetals has established trade outlets in more than 60 countries and regions around the world and built large-scale logistics industrial parks in Guangzhou, Wuxi, and Lanzhou. In the field of finance and real estate, China Minmetals has a full financial license and strong capabilities for investment and financing and resources allocation. Minmetals Land and MCC Real Estate are two of 16 real estate enterprises identified by the State-owned Assets Supervision and Administration Commission (SASAC). China Minmetals also has strong strength in the field of technological innovation. It boasts 36 national scientific and technological innovation platforms, and more than 24,000 live patents, of which more than 6,800 are patents for invention, ranking fourth among central enterprises. Also, China Minmetals has continued to build the “hundreds-of-billions internal market” and fully unleash the competitiveness of the whole industry chain, setting a good model for central enterprises to carry out the complementary recombination.

Guo stressed that China Minmetals has always maintained a sincere and professional attitude to establish cooperative relations with all parties, and hoped to organize professional forces to study and expand the scope of cooperation and strengthen cooperation in the field integrating production, investment, and financing on the basis of previous good cooperation with CCB, so that both sides can give full play to their respective advantages to achieve mutual benefit and win-win results and common development.

Wang Zuji thanked Guo for his warm reception and strong support for CCB, appreciated the development achievements after the strategic recombination, introduced the basic situation of CCB and its subsidiaries, and reviewed CCB’s good cooperation with China Minmetals and MCC. He said that China Minmetals, as a central enterprise with prominent main business and multiple sidelines, has made remarkable achievements in the financial field. As such, it has become a valuable partner of CCB. Now, CCB strongly supports the innovation and development of enterprises in accordance with the requirements of the Central Government. In addition to conventional measures such as credit aid, it also further increases the forms of cooperation through the operation of the capital market to provide diversified and professional financial services for enterprises. CCB will dispatch a capable team to conduct in-depth collaboration with related business departments of China Minmetals to expand the cooperation space in capital operation further and boost the business development of China Minmetals.

Jiang Xin, China Minmetals’ CFO and Party Group member, and Liu Caiming, China Minmetals’ Deputy General Manager and Party Group member, attended the meeting. Also present at the meeting were Liu Guangliang, Wang Baokui, Lu Gang and Qu Yinjun from CCB as well as Zou Hongying, Ren Zhufeng, Zhang Shuqiang, Xiong Xiaobing, Zheng Wei, and Peng Peng from China Minmetals’ Headquarters and directly-affiliated departments.