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Guo Wenqing Meets with CCB Trust President Wang Baokui

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On April 24, 2018, Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman and Party Committee Secretary, met with a visiting delegation led by Wang Baokui, President of CCB Trust, and the two sides exchanged views on further strengthening cooperation.

Guo Wenqing welcomed the visit of Wang Baokui and his party and introduced the development of China Minmetals and MCC after the strategic restructuring of the two Fortune 500 companies. Guo Wenqing pointed out that China Minmetals is the only state-owned capital investment company in China’s metal mining industry and shoulders the mission of guaranteeing the nation’s metal supply. Currently China Minmetals manages the assets amounting to 1.68 trillion yuan and employs 200,000 people. Under the guidance of the goal of quadrupling profits with three steps, China Minmetals’ international competitiveness and strong impact upon the industry are further demonstrated. In 2017, its operating revenue and profit hit record highs. The profit target for the first quarter of this year was met as expected. China Minmetals has made steady headway towards the goal of building itself into the top metal mining group in China and one of the first-class companies of its kind in the world. China Minmetals is one of the three central SOEs with the full license for financial services. It has strong capabilities for investment, financing and resource allocation. At the same time, China Minmetals, based on Changyuan Lico battery cathode materials, Caofeidian MCC Ramu ternary precursors, and lithium extraction of the Salt Lake Co., Ltd., actively expands its presence in the new energy field. MCC is a national metallurgical construction team in China and holds a 90% share of the domestic market and a 60% share of the global market for metallurgical construction; it actively pursues the “Belt and Road” Initiative, and runs the Ha Tinh 10 million-ton greenfield steel project and the 3.5 million-ton steel project at Malaysia-China Kuantan Industrial Park, fully demonstrating China's advanced manufacturing capabilities, multi-discipline systematic integration and technological innovation capabilities.

Guo Wenqing stressed that China Minmetals maintains a steady growth momentum is inseparable from the emphasis on risk management. China Minmetals makes continuous efforts to improve the risk management and control system, clarify the management and control lines, and strengthen control of investment projects, laying a solid management foundation for the company's production, operation and reform. Guo Wenqing indicated that China Minmetals is willing to, on the basis of good cooperation with CCB Trust, build a professional team to seek ways for expanding cooperation, strengthen cooperation regarding the integration of production, investment and financing, strategic emerging industries, overseas resource acquisition, project construction along the “Belt and Road”, urban infrastructure construction and the water industry, and that he wishes to see the two sides will bring into play their respective advantages for win-win cooperation and common development.

Wang Baokui expressed his gratitude to Guo Wenqing for his warm reception and expressed appreciation for the achievements of China Minmetals over recent years. He introduced the general situation of CCB Trust and reviewed the exchanges and cooperation between CCB Trust, China Minmetals and MCC. He pointed out that CCB Trust and China Minmetals share a lot in common in their understanding of risk management. A central enterprise as standard and professional as China Minmetals is the most important partner of CCB Trust. CCB Trust will give further play to its professional capabilities, so as to provide China Minmetals with financial services that facilitate it to attain its development goals, to further expand the cooperation space for capital operation, and to enhance the value of the cooperation between the two sides.

Jiang Xin, member of China Minmetals’ Party leadership group and Chief Accountant, and Wang Yeqiang, Vice President of CCB Trust and Chief Investment Officer, attended the meeting. Also present at the meeting were related personnel of CCB Trust, including Zhou Zhihuan, Wei Xiaodong, and Chen Di, together with representatives of the headquarters of and the units directly under China Minmetals, including Li Yuchao, Xiong Xiaobing, Shao Bo, and Xiao Zhiguang.

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