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Guo Wenqing Presides Over the Symposium of the Enterprises of China Minmetals in Hunan Province

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On September 7, Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, presided over the symposium of the Enterprises of China Minmetals in Hunan province, knowing more about the operation of enterprises in Hunan province and putting forward some requirements for reform and development.

In the symposium, Zhao Zhishun, Li Zhongze, Li Maolin, Hu Liuquan, Yi Shuguang, Yin Zhiwei and Ning He, the executives of Hunan Nonferrous Group (HNG), China Tungsten And Hightech Materials Co., Ltd. (China Tungsten), Changsha Research Institute of Mining and Metallurgy Co., Ltd., Hunan Changyuan Lico Co., Ltd. (Hunan Lico), Zhongye Changtian International Engineering Co., Ltd., Changsha Institute of Mining Research Co., Ltd. and the 23rd Metallurgical Construction Group Co., Ltd. of Minmetals, respectively reported on the operation of their companies, the completion of main targets, the planning of future development and the support required from China Minmetals.

Guo Wenqing recognized the achievements in the reform and development made by China Minmetals' enterprises in Hunan province over the past years, and expressed sincere gratitude to the hard work of all officials and employees of China Minmetals' enterprises in Hunan province. He pointed out that in recent years, especially since the strategic restructuring of former China Minmetals and MCC, China Minmetals' enterprises in Hunan province has always upheld the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and vigorously implemented the plans and policies made by China Minmetals. For this reason, China Minmetals' enterprises in Hunan province developed an approach of "One Enterprise, One Policy" in light of local conditions and defined the responsibility at each level to effectively promote the transformation and upgrading. As a result, the operation of such enterprises showed good result and great vitality, and the entrepreneurship of the officials and employees improved a lot, and some enterprises gained rebirth.

In light of the efforts to further deepen the reform and development of China Minmetals' enterprises in Hunan province, Guo Wenqing put forward six requirements:

First, we need to maintain our strategic focus and unswervingly expand our main responsibility of metallic ore. The world today faces profound changes like never before, and uncertainties and instability increases markedly. China Minmetals' enterprises in Hunan province, therefore, shall bear in mind the important speech and guiding principles made by General Secretary Xi Jinping about the reform and development of the state-owned enterprises (SOEs). Moreover, under the new development landscape dominated by the major circulation in China and supported by both domestic and international circulations, we shall ensure our efforts in the work. First of all, we shall focus on the actual conditions and maximize our own resources to tap the potential and achieve growth. We shall intensify our efforts to explore ore in more areas and put the idle resources into use. Beyond that, we need to emancipate our mind and strengthen our main business, endeavor to enhance our capacity in accessing to domestic resources and work hard to play an active role in reshaping the landscape of domestic resources. Moreover, we shall thoroughly tap the potential of existing resources, strive to extend our industry chain and proactively build the competitive edge of the whole industry chain. Alongside that, we need to seize the new opportunities brought by the new environment and accelerate our penetration into the high end of the industrial chain. In addition, we need to further improve the operation level and focus on increasing the level of lean management, smart management and green development. On the basis of strictly controlling the cost and strengthening the core competitiveness, we work to achieve the development with higher efficiency, higher quality and a higher level for metallic mining.

Second, we shall take a target-oriented approach and complete the goals and tasks this year. As the COVID-19 pandemic is waning and the external environment is getting better, the enterprises, with their progress lagged behind, shall not come up with any excuses and need to expedite the production and expand the marketing, and take all feasible means to increase the revenue and fulfill the performance this year. The enterprises, with good performance, shall work harder to make more contributions. The leaders of China Minmetals' enterprises in Hunan province shall shoulder their responsibilities and focus on the milestone of the tasks, to make tangible contributions.

Third, we shall continue to advance supply-side structural reform and further speed up the adjustment, improvement and upgrading. China Minmetals' enterprises in Hunan province need to strengthen the efforts for regulating unprofitable enterprises to ensure that the task of dealing with zombie enterprises meets the deadline. And we shall further emancipate our mind and break the obstacles of the systems and mechanisms, and use the current window period to speed up the resolution of loss problem, to stop the unprofitable enterprises from slowing down the pace of China Minmetals' progress. At present, the commodity price enters into the observation period, the production enters into the improvement period and the mergers & acquisitions enter into the window period. In the face of such three periods, China Minmetals' enterprises in Hunan province need to make accurate judgement and fully seize opportunities, and further speed up, with a strong sense of responsibility and firm confidence, the reform and development as well as upgrading of the enterprises.

Fourth, we shall continuously pursue innovation-driven development and accelerate the momentum of industrial development. China Minmetals' enterprises in Hunan province need to increase the efforts for making breakthroughs in technological research and solve the problems arising from the industrial chain in a targeted manner, especially the issues concerning the core technologies. And the research shall stick to the principle of "using research to develop products and using products to develop industries". For this reason, scientific research shall be closely in line with the demands of production and development of enterprises, to achieve the breakthroughs in technology while solving problems and promoting development. We shall further galvanize our scientific and technical personnel to build a high-caliber research team.

Fifth, we shall put stability first and pursue progress while ensuring stability, and control the risks of various forms. We need to give priority to the prevention and control of capital risk. For this reason, China Minmetals' enterprises in Hunan province shall improve the building of the internal financial control system, strengthen the centralized management of the capital, improve the use efficiency of the capital and take tangible efforts for rectification and improvement. In addition, we shall prioritize the stability, control risks, and focus on the prevention and control of investment risks. To promote the development of an enterprise, we shall follow the operation principle of putting quality before quantity. Moreover, we shall ensure our efforts for the rectification required by the Central Committee of the Communist Party of China on Environmental Protection Supervision as well as work safety, to forestall and defuse safety risks and environmental risks in the process of production.

Sixth, we shall take a down-to-earth approach to build a team of high-caliber officials. The leaders shall take bold steps and carry out self-discipline, and stand ready to shoulder responsibilities. In addition, we shall always maintain our strategic focus and serve as an example, and follow the integration of power and responsibility and the match of moral and post, to take visible actions to lead all officials to work hard. And we shall give play to entrepreneurship and focus on improving our conduct to constantly build a team of high-caliber officials.

Jiao Jian, China Minmetals' Vice President and Party Group Member, attended the symposium. Directors from the Strategy Development Division, Enterprise Management Division, Finance and Treasury Division, Party Group Supervision Office, Party and Mass Work Department of China Minmetals, and leaders of China Minmetals' enterprises in Hunan province and key subsidiaries, attended the symposium.

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