On May 11, Chairman and Party Secretary He Wenbo held a leaders symposium at China Metallurgical Group Corporation (hereinafter referred to as MCC), carefully listening to the introduction by attendees and delivering an important speech after exchange and discussion about relevant issues. Minmetals Director, President and Deputy Party Secretary, as well as Chairman and Party Secretary of MCC and Metallurgical Corporation of China Ltd. Guo Wenqing presided over the meeting. The symposium was attended by 35 people including Zhang Zhaoxiang, General Manager of MCC and President of Metallurgical Corporation of China Ltd., leading team members of MCC and Metallurgical Corporation of China Ltd., and leaders above the director level of China Metallurgical Group.

He Wenbo made a speech concerning the significance of restructuring, implementation of SASAC requirements on restructuring, and the reform and development of Minmetals.

He pointed out that, Minmetals and MCC are both Fortune Global 500 enterprises with significant status in the market, and the alliance of the two is an inevitable trend. Minmetals is a highly internationalized enterprise with the overseas assets accounting for 40% of the total assets and the foreign employees accounting for 12%. MCC is one of the main forces in infrastructure construction and overseas engineering contracting of the country. The two enterprises both have strong influence and development achievements in their respective fields. With the progression of integration, the value of restructuring will be gradually recognized by more people. Upon completion of restructuring, Minmetals will strive to become a first-class metal and mineral corporate group in the world, and a state-owned capital investment company in the metal and mineral field, guaranteeing the resource safety, innovating in industrial upgrading and enhancing circulation transformation. Under the strategies of supply-side structural reform, “One Belt and One Road” and “Going Out”, the scale effect and synergy effect for resource development, bulk commodity trade and circulation, engineering construction and real estate development will be gradually revealed.

He Wenbo stressed that, we shall firmly implement SASAC requirements on restructuring, give full play to the respective advantages, expedite the restructuring, release the restructuring bonus, turn the mutual intentions and purposes into reality, and realize the expected effects. We shall highly emphasize the integration of enterprise culture, further strengthen the Party-related affairs, implement the measures of "three de-s, one reduction and one supplementation", improve the quality and efficiency, and realize various tasks and objectives of reform and restructuring.

He Wenbo finally pointed out that, upon completion of restructuring, the independence and integrity of Metallurgical Corporation of China Ltd. as a listing company will remain unchanged, and the former development strategy will not be changed due to change of shareholders. With the substantial restructuring, the operation team of MCC will obtain better development environment and conditions. The new Minmetals after restructuring will realize continuous business development, and create broader vocational development space for each manager with ideals, pursuits and talents. The Party leaders shall firmly implement the national strategy deployment, fulfill the strategic restructuring task, and make Minmetals better and stronger after restructuring. Only in this way can every employee have a brighter prospect in their vocational development.

At the meeting, He Wenbo also introduced to the attendees the recent development of Minmetals, especially the measures taken since 2015 such as strict control of risks, reduction of occupancy, return to operation nature, and practice of basic skills.

On behalf of the management of MCC, Zhang Zhaoxiang extended gratitude to He Wenbo for his investigation and guidance, and expressed their determination to implement the requirements of Chairman He in actual work, fulfill their own duties, push forward the reform and development of MCC and make contributions to the transformation and development of new Minmetals.

Guo Wenqing summarized that, the visit of Chairman He fully displayed his concern for MCC and all the leaders and employees thereof. Chairman He elaborated on the reasons for restructuring, current development of Minmetals and the future development of MCC and its leaders and employees after restructuring. MCC's current development shall be attributed to the enthusiastic work of all the leaders and employees. Upon completion of restructuring, MCC will have greater space for development, more opportunities and larger room for the development of its staff. The creation of enterprise value depends on the concerted efforts of all the employees. We shall carefully learn and implement the spirit of the speech of Chairman He, maintain great enthusiasm in work, and get prepared for larger responsibilities.