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China Minmetals Signed Comprehensive Strategic Cooperation Agreement with China Life

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On the afternoon of April 24, the signing ceremony of the comprehensive strategic cooperation agreement between China Minmetals Corporation and China Life Insurance (Group) Company (hereinafter referred to as "China Life") was held in Beijing Center of China Life. Mr. Tang Fuping, Chairman and Party Committee Secretary of China Minmetals, and Mr. Wang Bin, Chairman of China Life, together attended and witnessed the signing. Mr. Ren Zhufeng, Deputy General Manager and Party Committee Member of China Minmetals and also Chairman of Minmetals Capital Company Limited signed the contract with Mr. Yin Zhaojun, Vice President of China, on behalf of the two sides. This comprehensive strategic cooperation agreement, signed by China Minmetals and China Life, aims to implement the spirit of the National Financial Work Conference and the Central Economic Work Conference, to deepen the financial reform and innovation by establishing deeper strategic cooperation so as to bring into play the resource advantages and service capabilities of both sides in the fields of mineral resources development, infrastructure investment, supply chain finance, financial leasing, and to promote the integration of industry and finance.

The two sides held talks before the signing ceremony. Tang Fuping thanked China Life for its long-standing support and introduced the development of China Minmetals in recent years. He pointed out that China Minmetals, one of the three central enterprises with full financial licences in China, is committed to building a world-class metal mining enterprise. Since the 18th CPC National Congress, China Minmetals has been carrying out the requirements of high-quality development, continuously optimizing the industrial structure and improving the competitiveness, properly solving the problems left over by history, expanding the scale of enterprises with continuously prosperous operating efficiency. At present, the total assets under management of Minmetals in China amount to 1.86 trillion yuan, with business revenue exceeding the 500 billion yuan mark in 2018, and operating revenues and profits hitting record highs. In the first quarter of this year, the main operating indicators of China Minmetals are showing a good growth trend.

Tang stressed that there have been a long-term, stable and in-depth cooperation in multi-business areas between China Minmetals and China Life with each other’s support and development, which has laid a solid foundation for cooperation and achieved good cooperation results with huge space and broad prospects for cooperation in the future. It is confirmed that the comprehensive strategic cooperation agreement signed today will push the two sides to play their respective advantages and achieve wider, deeper and more effective cooperation and China Life is also expected to give China Minmetals strong support in mixed ownership reform, finance and other multi-business areas.

Wang Bin welcomed Mr. Tang and his delegation, thanked China Minmetals for their strong support, and introduced the development of China Life Insurance in recent years. He pointed out that China Life, the largest financial and insurance conglomerate in China and the first insurance company in the world to be listed in New York, Hong Kong and Shanghai, has formed a business pattern of coordinated development among the insurance, investment and banking sectors in recent years. He stressed that due to the close business contacts, the solid cooperation basis, and remarkable cooperation results, China Life and China Minmetals signed the comprehensive strategic cooperation agreement today, which will have a far-reaching impact on the cooperation between the two sides. It’s hoped that both sides will expand cooperation in a wider range of areas including insurance, investment and financing, banking and overseas operations to push cooperation to a new level.

Mr. Wang Junhui, Chief Investment Officer of China Life Insurance and President of Asset Company, Mr. Yu Xianqun, Strategic Planning Director of China Life, Mr. Tang Guangzhu, Resource Integration Director of China Life , Mr. Liu Anlin, President of China Life Property&Casualty Insurance Company Limited, Mr. Cui Yong, President of China Life Pension Company Limited, Mr. Zhang Fengming, President of China Life Investment Holding Company Limited, Mr. Zhao Peng, Vice President of China Life Insurance Company Limited, Ms. Xu Hongxia, Vice President of China Guangfa Bank attended the ceremony, together with the directors from the related headquarters departments, the enterprises under direct control and the affiliated enterprises of China Minmetals including Zou Hongying, Xue Fei, Zhang Shuqiang, Li Yuzhuo, Xiong Xiaobing, Gao Hongfei and Wang Zhuo.

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