On March 30, the General Office of the Leading Group for State-owned Enterprise Reform under the State Council held the special promotion meeting for perfecting corporate governance mechanism and improving operation quality & efficiency via video link. Weng Jieming, Deputy Director of the General Office of the Leading Group for State-owned Enterprise Reform under the State Council, Party Committee Member and Deputy Director of SASAC, attended and addressed the meeting. Peng Huagang, Party Committee Member and Secretary General of SASAC, presided over the meeting. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary, attended the meeting via video link.

It was noted at the meeting that in recent years, all central state-owned enterprises (central SOEs), state-owned assets supervision and administration commissions in different localities, and local state-owned enterprises had followed the important instructions of General Secretary Xi Jinping, and made great progress in perfecting the corporate governance mechanism.

At the meeting, it was noted that in response to the weak links in corporate governance, the List of Early Study Items should be optimized; that the construction and operation quality of the Board of Directors should be improved; that the Board of Directors should delegate more powers to the management. Besides, it was pointed out that measures should be taken to strengthen the coordination and communication and improve the meeting mechanism; that Party organizations, Board of Directors, management and other governance subjects should give full play to their roles, thus to improve a corporate governance mechanism with law-based powers & responsibilities, transparent rights & liabilities, coordinated operation, and effective balance. It was also stressed that China Minmetals should give rational authorization and delegate more power to its subsidiaries to make decisions on corporate governance and operation. In addition, it was emphasized that China Minmetals should uphold the Party's overall leadership, and give full play to its role in guidance & supervision, preparation of regulations and systems, coordination, authorization and power delegation. As the meeting pointed out, China Minmetals should learn more about policies and implement them more strictly, give the corresponding punishments to ensure the smooth implementation, and give full play to the leading role of a model enterprise, so as to help build more mature modern enterprise system with Chinese characteristics.

Liu Caiming, Vice President, Party Group Member and Chief Accountant of China Minmetals, attended the meeting via video link. Other participants who attended this meeting on site or via video link included members of the Central Leading Group for Comprehensively Deepening Reform, heads and board secretaries of directly-managed enterprises and some key subsidiaries of China Minmetals, and directors of leading department for enterprise reform.