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Guo Wenqing Meets with Jing Junhai, Governor of Jilin Province

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On March 1, Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman and Party Committee Secretary, met with a delegation led by Mr. Jing Junhai, Governor of Jilin Province, in the headquarters of China Minmetals. A work meeting was held between the two sides to carry out in-depth exchanges and discuss further cooperation.

Mr. Guo Wenqing welcomed the visit of Mr. Jing Junhai and his delegation and briefed them on the development of China Minmetals during the past five years. He pointed out that December 8, 2015 witnessed the strategic recombination of two Fortune Global 500 companies, namely, China Minmetals and MCC. After the recombination, China Minmetals became the manager of RMB 1.68 trillion in assets and 200,000 on duty employees. In 2017, the corporation raked in RMB 500 billion in revenue and RMB 13 billion in total profits, taking a solid first step towards the goal of realizing “three steps and two doublings”; in 2018, it will strive to double the profits realized in 2017; and by 2020, the corporation will become a world leading manufacturer of bulk metal minerals, including copper, iron, nickel, tungsten, and zinc. Since the recombination, the corporation has positioned itself as “the national team in metallurgical engineering, the main force of infrastructure construction, and the pacesetter of emerging industries” and continued to transform its technological superiority in metallurgical engineering to advantages in the market. Its business has expanded to cover a wide range of areas, such as municipal works, expressway construction, and industrial and civil engineering. In 2017, the corporation’s contracted value exceeded RMB 600 billion, showing a strong growth momentum.

Mr. Guo also shared with Mr. Jing China Minmetals’ strength in such areas as science and technology, infrastructure construction, emerging industries, finance, and real estate and expressed his hope to see more cooperation between the two sides in more areas. In science and technology, China Minmetals has 32 national key laboratories and science & technology platforms and over 20,000 valid patents, ranking the fourth among central state-owned enterprises. In infrastructure construction, China Minmetals enjoys unique advantages in the development of comprehensive pipe galleries, expressways, municipal works, and light railways, etc. As the first Chinese company to set up the Pipe Gallery Technology Research Institute, Beautiful Village & Smart City Technology Research Institute, and Sponge City Technology Research Institute, MCC also took part in formulating the national standards for pipe gallery technologies. It enjoys the largest business volume in this regard among central state-owned enterprises and its pipe gallery business has extended to Siping City of Jilin Province. In emerging industries, China Minmetals is making full use of its advantages in resources and developing a new energy sector. In financial business, China Minmetals is one of three central enterprises with full licenses in financial services, testifying its unmatched strength in investment, financing, and resource allocation. In the real estate sector, China Minmetals and MCC have taken up two seats of the 16 central state-owned enterprises that are recognized by the State-owned Assets Supervision and Administration Commission (SASAC) as focusing on real estate development. Their subsidies, such as Minmetals Land and MCC Real Estate, are well-renowned in the industry.

Mr. Jing thanked Mr. Guo for the hospitality and expressed appreciation for the achievements made by China Minmetals since its strategic recombination with MCC. He pointed out that the strategic recombination achieved the effect of “1+1>2”. China Minmetals has demonstrated an ability to make innovations, expand market, and cooperate with others, which is worth learning. Although innovation leads the future, opportunities are fleeting. The truth is increasingly self-evident in today’s world. Internet and other new technologies have profoundly changed the world and people’s way of work and living. The two sides should continue to explore new technologies together and find new fields of cooperation. Mr. Jing suggested that the two sides sign a strategic cooperation agreement and forge a close strategic partnership. He emphasized that both sides should abandon linear thinking and adopt a more comprehensive way of thinking so as to rapidly plan and promote their cooperation in a wider range of areas, such as new materials, new energy, equipment manufacturing, infrastructure construction, and state-owned enterprise reform.

During the meeting, the two sides also exchanged views on cooperation in such areas as infrastructure construction (e.g. urban transportation infrastructure), advanced manufacturing (e.g. equipment manufacturing), emerging industries (e.g. new energy vehicles), rural revitalization strategy, green development, and financial services for real economy, etc.

Mr. Jin Yuhui, Vice Governor of Jilin Province, and China Minmetals executives Dong Mingjun and Zhang Zhaoxiang also attended the meeting. Also present at the meeting were officials from Jilin Provincial Government, including Peng Yonglin, Bai Xugui, Liu Xiaodan, and Yu Liang, and those from relevant departments in the headquarters of China Minmetals, MCC, and Minmetals Capital, including Zhang Mengxing, Wang Shilei, Ren Zhufeng, Yin Sisong, Xue Fei, Liu Fuming, and Leng Tiesong.

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