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Guo Wenqing Meets with Wang Min, President of XCMG


2020-10-12
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On October 9, Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, met with Wang Min, President and Party Secretary of Xuzhou Construction Machinery Group Co., Ltd. (XCMG), and both sides had extensive discussion on further strengthening cooperation.

Guo Wenqing extended a warm welcome to Wang Min and expressed sincere gratitude to XCMG for its long-term strong support for China Minmetals and MCC. At the meeting, Guo Wenqing gave a brief introduction to the evolution of China Minmetals and MCC (both among the Fortune Global 500) as well as the achievements since the strategic restructuring of China Minmetals and MCC. Guo Wenqing said that founded in 1950, China Minmetals was transformed from an enterprise with the sole business of foreign trade to an industrial group with metal mining as its core business. Guo Wenqing introduced the fact that founded in 1948, MCC had undertaken the planning, survey, design and construction of the main production facilities of almost all large and medium steel enterprises in China, earning itself a name of the national metallurgical construction team. Since the restructuring of China Minmetals and MCC in December 2015, China Minmetals, under the guidance of the strategic target of "quadrupling in three steps", has introduced a slew of reform measures outside of the spotlight and achieved the tasks of each year. On top of that, China Minmetals has also strengthened the business system featured by "four beams and eight columns" through focusing on metal mining, metallurgical engineering, trade, logistics, finances and the real estate. In addition, through the continuous efforts in tapping the potential for the domestic market with a scale of RMB 100 billion, China Minmetals was the first to build a whole-industry chain in the field of metal ore, from resource access, survey, design, construction, operation to circulation and deep processing. The assets under the management of China Minmetals now reach RMB 2.16 trillion, and the business revenue in 2019 exceeded RMB 600 billion, making China Minmetals rank 92nd among the Fortune Global 500.

Guo Wenqing said that guided by the important instruction made by General Secretary Xi Jinping for developing a new development landscape dominated by domestic major circulation and supported by both international circulation and domestic circulation, China Minmetals had been improving its development quality. XCMG is committed to building itself into a national brand, and also a partner China Minmetals values much. Guo Wenqing noted that he wished both sides, in carrying on the national spirit and developing the national brand, would combine China Minmetals' domestic & international markets and its strengths in logistics park with XCMG's strengths in cutting-edge equipment, in an effort to explore innovation in cooperation modes and boost internal forces driving development. He also said that on the basis of meeting China Minmetals' needs for equipment, XCMG could help China Minmetals improve production capacity, expand production and lower production cost to achieve mutual benefits.

Wang Min expressed sincere thanks to Guo Wenqing for his gracious hospitality, recognized China Minmetals' achievements gained in recent years, and agreed with Guo's suggestions on cooperation. Wang Min said that since the launch of the corporate reform model across China in 1989, XCMG had always been No. 1 among Chinese construction machinery industry during the past 30 years. Wang noted that XCMG was dedicated to its core value of "Taking Great Responsibilities, Acting with Great Morals, and Making Great Achievements", in order to keep moving towards its ultimate goal of becoming a leading world-class enterprise. Wang also stated that as XCMG and China Minmetals have a deep friendship in cooperation on technical equipment, XCMG would provide quality equipment and services for China Minmetals as before, and send the best team to follow business demands and progress of China Minmetals. Wang expressed the idea that XCMG would explore innovations and contribute its share to provide professional suggestions and solution to help China Minmetals move toward high-quality development.

Both sides watched the promotional video of XCMG, and had an extensive discussion on the issues of common concern.

Jiao Jian, China Minmetals' Vice President and Party Group Member, was present at the meeting. Leaders from XCMG, including Li Zong, Liu Jiansen, Chen Xiaomin, Reng Hua and Ling Yun, and leaders from China Minmetals and its directly-managed enterprises, including Wei Shuxiang, Zhang Mengxing, Chang Wei, Zhu Haitao, Yue Wenyan, Shao Bo, Wang Jicheng, Wang Xiaolei, Ang Yang and Zhang Song, attended the meeting.

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