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Guo Wenqing Meets with Fuzhou Major Official Lin Fei

Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman, met with the visiting delegation headed by Lin Fei, Fuzhou Executive Vice Mayor and Member of the Standing Committee of the Fuzhou Municipal Party Committee on November 14, 2018. The two sides exchanged views in a deep-going way with regard to raising the steel supply chain finance and strengthening cooperation.

Guo Wenqing welcomed Lin Fei and his party. Guo Wenqing pointed it out that China Mimmetals manages an asset of 1.68 trillion yuan and has 200,000 employees. It is the only state-owned capital investment company in China's metal mining industry, shouldering the mission of ensuring the supply of metal resources for the nation, and it is dedicated to building itself into a metal mining group which is the top one in China and one of the top-notch in the world. A pioneer and a new force in China’s steel industry, the MCC is China’s National Team for Metallurgical Construction, holding a 90% domestic market share and a 60% international market share in metallurgical construction, and providing first-class construction, technical support and operation services for all large steel enterprises in China. At present, the MCC is responsible for designing and implementing all the green and environment-friendly construction and energy-saving transformation projects of Chinese steel enterprises. At the same time, in accordance with the trade strategy of “Maintain ties with suppliers and users, lock up risks, make big deals and ensure closed circulation”, China Minmetals, a trader in the very beginning, has established trade outlets in more than 60 countries and regions around the world, and large-scale logistics parks in Guangzhou, Wuxi, Lanzhou and other places, with incomparable network channel advantages.

Guo Wenqing stressed that China Minmetals is endeavoring to building Caofeidian International Ore Trading Center which is set to be an up-to-date, green, environment-friendly, intelligent and efficient international trading center of hundreds of millions of tons of ore with a full range of functions like bonded warehousing, ore matching, hedging, financing, spot goods and futures delivery. Geared to the demands of steel enterprises, the trading center shall provide excellent services to meet individualized needs of different blast furnaces, create added value in ore mixing and matching, and deliver competitive iron ore products of China Minmetals. Fujian is one of the major origins of bulk commodity trade service, and Fuzhou is one of the 14 coastal ports which first opened to the foreign trade in China, enjoying geographical and resource advantages. Guo Wenqing expressed the wish that the two sides shall deepen cooperation in the steel supply chain finance, trade and logistics for win-win outcomes.

Lin Fei expressed gratitude for Guo Wenqing’s warm reception and showed appreciation for the progress China Minmetals has achieved after restructuring. Lin Fei indicated, to implement the State Council’s decision of advancing the supply chain innovation and application and accelerating the innovation and application of the supply chain financial services in Fuzhou, Fuzhou Municipal Government has led the establishment of the steel supply finance work group, with a view of integrating resources of the industry and increasing the ratio of the service industry output. Fuzhou shall, as always, provide all service support and facilitate China Minmetals to help Fuzhou build the supply chain finance platform and build a leading steel supply chain service system in China.

Also present at the meeting was Liu Caiming, Deputy General Manager and Member of the Party Leadership Group of China Minmetals. Besides, Han Zhiling, Ke Xueli, Zheng Xinlei, Wu Liang, Huang Jianxiong, Liu Yongquan and Kongquan from Fuzhou, together with the personnel from the headquarters, related departments and enterprises of China Minmetals like Zhang Mengxing, Xue Fei, Liu Qingchun, Xiong Xiaobing, Liu Fuming and Yang Kui also attended the meeting.