On November 4, China Minmetals held a Special Promotion Meeting on Deepening Reform and Promoting the Development of Boards of Directors(BoD) of Subsidiaries, along with the opening ceremony of the Directors' Duty Performance Training program. Chen Dexin, Party Group Secretary and Chairman of China Minmetals, attended the meeting and delivered a speech. Zhu Kebing, Deputy Party Group Secretary, Director and President of China Minmetals, presided over the meeting. Cheng Yong, Party Group Member, Vice President and Secretary of the Board of Directors of China Minmetals, attended the meeting.

The meeting conveyed and studied the deployment requirements of the State-owned Assets Supervision and Administration Commission of the State Council concerning the construction of boards of directors of central enterprises. It is emphasized to thoroughly study and implement the guiding principles of the fourth plenary session of the 20th CPC Central Committee, and also fully follow General Secretary Xi Jinping's important expositions on work related to the reform and development as well as Party building of state-owned enterprises, consistently upholding the "Two Persistent Principles" (persistently upholding the Party's leadership over SOEs as a fundamental political principle; persistently establishing a modern enterprise system as the reform direction for SOEs)". It is necessary to deeply understand the significance of strengthening the construction of the board of directors, deepen the construction of the board of directors of subsidiaries, build a high-quality and professional team of external directors, shape a good board culture, and promote the establishment of scientific, rational and efficient boards of directors at all levels of subsidiaries.

The meeting emphasized that it is necessary to take "scientific construction" as the foundation, adhere to hierarchical and classified policies, clearly define the boundary of power and responsibility, make the governance system more scientific and rational. It is essential to regard “Rational decision-making" as the core, establishing a full-process decision-making mechanism of "thorough research before meetings, independent decision-making during meetings, and tracking and evaluation after meetings". It is imperative to take "efficient operation" as the guarantee, starting from such aspects as proposal management, efficient decision-making, supervision and implementation in order to ensure that the board of directors' decisions are "discussed and decided, decided and implemented, and implemented with results".It is crucial to take "team building" as the support, and build a team of directors with political integrity, professional competence and sufficient motivation for performance. It is necessary to take "quality forging" as the means, strengthening ideological construction, intensifying systematic training, and promoting capacity improvement, so as to build comprehensive capabilities matching the needs of the enterprise's reform and development. It is important to take "cultural guidance" as the driving force, cultivating a governance culture of "compliance, prudence and coordination" to form a favorable ecology of synergy and efficiency. It is vital to strengthen organizational guarantees and consolidate work responsibilities to ensure all related tasks are effectively implemented, thus comprehensively enhancing the quality and efficiency of the construction of the board of directors in subsidiaries.

At the meeting, the Enterprise Management Department reported the work plan of China Minmetals for deepening the construction of the board of directors in subsidiaries. Chairmen, secretaries of the board of directors from some subsidiaries, and representatives of full-time and part-time external directors dispatched by China Minmetals made exchange speeches.

The meeting was held both on-site and via video link. Attendees included heads of departments from China Minmetals Headquarters, dispatched full-time and part-time external directors, as well as directors, secretaries of the board of directors, and heads of the board of directors' offices of directly-managed enterprises and key subsidiaries.