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Guo Wenqing Meets with Liu Jun, President of the Bank of Communications

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On October 9, Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, met with Liu Jun, President and Deputy Party Committee Secretary of the Bank of Communications, and both sides had extensive discussion on further deepening cooperation.

Guo Wenqing extended a warm welcome to Liu Jun, and recalled the history of friendly cooperation between both sides, and expressed sincere gratitude to the Bank of Communications for its lasting strong support for China Minmetals and MCC. Guo Wenqing outlined the evolution of China Minmetals and MCC (both among the Fortune Global 500) and the achievements gained since the strategic restructuring of China Minmetals and MCC. He said that since the strategic restructuring of China Minmetals and MCC in December 2015, China Minmetals had been the first to build a whole-industry chain in the field of global metal ore, from resource access, survey, design, construction, operation to circulation and deep processing. He also stated that China Minmetals, under the guidance of the strategic target of "quadrupling in three steps", introduced a slew of reform measures outside of the spotlight, and proactively guarded against and defused the risks of various forms. He said that on top of that, China Minmetals had 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 terms of metal mining, China Minmetals has a group of world-class mines including Las Bambas Copper Mine, Dugald River Zinc Mine and Ramu Ni-Co Mine, with abundant resources of metal ores. In terms of metallurgical engineering, MCC, holding 90 percent of domestic market share and 60 percent of international market share, is the pioneer and pacesetter of iron and steel industry in China and the national metallurgical construction team in China. In terms of trade and logistics, China Minmetals has a trade network across the world; besides, China Minmetals built an international ore trading center with a scale of 100 million tons at Caofeidian. In terms of finances and the real estate, China Minmetals has full financial licenses, and Minmetals Land Limited and MCC Real Estate Group Co., Ltd. under its umbrella enjoy higher popularity in the industry. 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 noted that since the outbreak of COVID-19, China Minmetals and MCC had fully implemented all major policies and plans made by the CPC Central Committee with Comrade Xi Jinping at its core and ensured coordinated progress in epidemic containment and development. As a result, under the premise of ensuring the overall stability of epidemic prevention and control, there is still growth in various economic indicators, and the trend towards long-term, sound development is gaining momentum. 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 concentrates on its business scope to actively advance the exchange and cooperation with financial institutions in the field. China Minmetals and MCC have forged a deep friendship of mutual benefit and trust with the Bank of Communications in many established businesses. Guo Wenqing said that he wished both sides would enhance communication and exchanges, expand the fields of cooperation, deepen the level of cooperation and explore innovations in the mode of cooperation to yield more fruits.

Liu Jun expressed sincere gratitude to Guo Wenqing for his gracious hospitality, and to China Minmetals and MCC for their lasting strong support to the Bank of Communications, and introduced its position in the banking industry and its features. Liu Jun said that on the one hand, the Bank of Communications had full financial licenses, particularly in leasing and trust services, with its management capacity and asset quality both ranking among the best, that on the other hand, the Bank of Communications, with prominent strengths in overseas countries and many overseas branches, could provide financial services in many countries and regions. Liu Jun noted that as the Bank of Communications has a long history of cooperation and a deep friendship with China Minmetals and MCC, it was expected that both sides would enhance communication, expand more space for cooperation and tap more opportunities for cooperation. Liu Jun said that for this reason, the Bank of Communications would act swiftly to develop much more and better financial products and provide tailor-made services with higher quality, in an effort to provide stronger financial support for high-quality development of China Minmetals and MCC.

Both sides had an extensive discussion on issues of common concern.

During the meeting, Mr. Guo Wenqing was accompanied by Liu Caiming, China Minmetals' Vice President, Chief Account and Party Group Member, Ren Zhufeng, Vice President and Party Group Member. The following people from the Bank of Communications were present at the meeting: Liu Jianjun, President of Beijing Branch of the Bank of Communications, Chen Yu, General Manager of Financial Management Department of the Bank of Communications, Qiao Hongjun, General Manager of Financial Market Department, Zhou Yan, Deputy General Manager of Institutional Business Department of the Bank of Communications and Vice President of Beijing Branch of the Bank of Communications, Li Yongjin, Senior Manager of Institutional Business Department of the Bank of Communications and General Manager of Strategic Client Department of Beijing Branch of the Bank of Communications and Lin Li, Senior Manager of Financial Management Department of the Bank of Communications. In addition, leaders from China Minmetals and its directly-managed enterprises, including Zou Hongying, Zhang Shuqiang, Zhang Hongjin, Chen Hui, Fan Yuwen and Chen Xingwu, attended the meeting.

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