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Tang Fuping Meets with Deutsche Bank’s APAC Unit Head Werner Steinmueller


2019-02-21
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On February 15, Tang Fuping, China Minmetals’ Chairman, met in Beijing with a delegation headed by Werner Steinmueller, Chief Executive Officer-Asia Pacific at Deutsche Bank AG and a member of the Management Board, and the two sides exchanged views on deepening cooperation and issues of common concern.

Tang welcomed the delegation and thanked the Deutsche Bank for its supports to China Minmetals in terms of investment & acquisition consulting, overseas bond issuance, international credit rating and trade credit of overseas enterprises, etc., and introduced the development of China Minmetals in recent years. He noted that China Minmetals is committed to building itself into a world-class metal ore company. Its scale has kept growing since the recombination of the former China Minmetals and the MCC Group in 2015. Its business revenue exceeded RMB500 billion and ranked the 109th among the Fortune Global500 in 2018. He noted that China Minmetals is developing its business system centering on metal ore, metallurgical construction, trade & logistics, and financial property. Specifically, in the field of metal ore, China Minmetals energetically develops overseas markets, boasts rich basic metal resources such as copper, zinc and nickel, and the world’s biggest reserve of tungsten, antimony and bismuth. It has now transformed from a trading enterprise into an enterprise with diversified businesses.

 

Tang pointed out that since the restructuring China Minmetals has achieved continuous business growth, reduced its asset-liability ratio, increased its rate of return on sale and improved its assets efficiency. In the future, China Minmetals will continue to thoroughly apply Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and put the guiding principles of the 19th National Congress of the CPC into practice, strive to meet the requirements on high-quality development, and stimulate the internal impetus to enhance its competitiveness. He stressed that China is at a critical stage of strategic transformation of its national economy, which generally performs well and achieves stability in spite of the downward pressure, China Minmetals will take proactive and effective measures to deliver a strong performance in its work with the help of the specialized operations of Deutsche Bank, seek for opportunities for cooperation and achieve mutual benefits and win-win results through purchase of assets and stock rights.

 

Werner Steinmueller said that China Minmetals is one of the most important partners of Deutsche Bank and the two sides have established a long-term and positive partnership thanks to the profound friendship between China and Germany as well as mutual trust and mutual assistance between executives of China Minmetals and Deutsche Bank. Deutsche Bank will mobilize its global resources to provide China Minmetals with comprehensive services in the field of investment bank business, commercial banking business and wealth management, give full support to meet the needs of China Minmetals in its strategy of internationalization, and hoped that the two sides make further communications and exchanges and carry out more cooperation.

At the meeting, the two sides exchanged views on the issues of common concern about the changes of the global trade system, China-US trade consultation and Brexit.

Also present at the meeting were China Minmetals Vice President Liu Caiming, Wu Qiong, Xu Yang, Wang Hansen from Deutsche Bank, as well as Zhang Shuqiang and Li Yuzhuo, who are responsible persons of relevant departments of the head office of China Minmetals.

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