On October 12, the signing ceremony of the framework agreement on strategic cooperation between China Minmetals Corporation (hereinafter referred to as "Minmetals") and Taiyuan Iron & Steel (Group) Co., Ltd. (hereinafter referred to as "TISCO") was held in Beijing. Minmetals Chairman He Wenbo and TISCO Chairman Li Xiaobo attended the signing ceremony and delivered a speech respectively. Deputy General Manager Yao Ziping and TISCO General Manager Gao Xiangming, respectively on behalf of the two sides, signed the agreement. Chai Zhiyong, Board Director of TISCO and Deputy General Manager of Shanxi Taigang Stainless Steel Co., Ltd., attended the signing ceremony. The ceremony was presided over by Zhang Ye, Director of General Office & Party Group Office & Board Office of Minmetals.

　　Under the agreement, the two sides will, on the principles of equality, voluntariness, long-term and stable cooperation, and co-construction and sharing, extend cooperation to such fields as logistics, overseas market development, and steel e-business on the basis of strengthening and deepening the existing cooperation in steel trade and raw materials purchase and sale. The two sides, through the establishment of a high-level exchange and communication mechanism, a specific matter coordination mechanism and an information sharing mechanism, maximize complementary advantages and win-win cooperation. The signing of this agreement marks a new journey of win-win cooperation between the two sides and a new chapter of transformation development in the pursuit of a higher level and broader areas of cooperation in the future.

　　In his speech, He Wenbo said that in an age of slow growth in the iron and steel industry and facing serious challenges brought about by the profound adjustment of the iron and steel industry, I believe the only way out is to reform, and cooperation is required for development and new leaps. Today, we sign this framework agreement on strategic cooperation to work together to further expand the cooperative space in several fields, especially in commodity raw materials, iron and steel trade, logistics, E-business, and the overseas market. Particularly, we propose a number of specific projects of strategic significance and with market prospects in such areas as overseas market expansion and stainless steel chain improvement, so as to strengthen and deepen cooperation and promote cooperation value. All of these are the win-win choice for both sides to adapt to industrial changes and development trends, and also a major measure for both sides to face squarely industrial challenges, turn crisis into opportunities through innovations, and promote leaping development.

　　He Wenbo hoped that both sides can give full play to the industrial coordination and complementary effect, share advantageous resources, mutually complement resources in demand, make a breakthrough in the innovation of commodity trade cooperation pattern and in the promotion of influence of stainless steel on the steel industry, and finally establish a mutually beneficial and win-win cooperation mode for the industry; he hoped that the two sides can grasp consolidation opportunities of the industry, strive to seek industrial chain integration and collaborative innovation, make a breakthrough in promoting the cooperation of specific projects, and open up new cooperation growth points between both sides; he also hoped that both sides can actively respond to the major national strategic vision of "One Belt and One Road", explore overseas markets hand in hand, make a breakthrough in "going global", open up a new international market space, and jointly improve the international competitiveness and influence. He believed that the two sides can realize the complementary advantages, create more value for customers hand in hand, and achieve a better tomorrow together as long as they pursue the common goal with unity in thought and action.

　　In his speech, Li Xiaobo said that since Minmetals has long dominated the metal and mineral import and export business, and TISCO is a super large iron and steel enterprise with a history of more than eighty years, the two sides share much in common in business, which serves as a natural basis for cooperation. For a long time, the close cooperation in metal materials and steel trade between the two sides has achieved fruitful results, and the two sides has forged a deep friendship, all of which has laid a solid foundation for the long-term cooperation.

　　Li Xiaobo said that in the face of the New Normal in China's economy and iron and steel industry, all the enterprises of the industry are facing new challenges of transformation and upgrading. There was a broader space for cooperation between TISCO and Minmetals in the process of achieving their respective strategic goals, and TISCO is very optimistic about the upcoming cooperation between the two sides in logistics, warehousing, steel e-business, expansion of overseas resources and sales channels. He believed that, with the signing of the strategic cooperation agreement as the new starting point, the two sides will certainly be able to create a new situation of win-win cooperation and write a new chapter through sincere cooperation and concerted efforts.

　　Before signing, He Wenbo had also held a talk with Li Xiaobo. He Wenbo extended his welcome to Li Xiaobo and his delegation, and expressed gratitude to TISCO for its trust and support. He said that Minmetals would spare no effort to perform the agreement, promote cooperation to make achievements; relevant business units should further strengthen service consciousness and strive to become a value-added link in the steel industry chain. Li Xiaobo expressed his gratitude to Minmetals for its support and help. He said that thanks to a long history of cooperation between the two sides, a good partnership between the teams during cooperation, and obviously complementary business, he was full of confidence in the prospect of mutual cooperation.

　　During the talk, Yao Ziping introduced the work carried out by the work teams of both sides and the main content of cooperation between the sides since Chairman He Wenbo’s visit to TISCO at the end of July. Chai Zhiyong expounded the principles of cooperation between the two sides and explored future cooperation opportunities. Leaders of relevant units exchanged views on specific matters of cooperation.

　　Leaders of relevant departments and units of TISCO, including Qin Tongwen, Meng Yongquan, Jiang Changhong, Zhang Xiaodong, Zhang Guoqing, Shang Jiajun, and Gao Feng; and leaders of relevant departments and units of Minmetals, including Xu Zhongfen, Liu Qingchun, Yan Jiayou, Huang Kun, He Zongchun, Liu Hongxing, and Hao Liwei also attended the signing ceremony.