On the morning of June 7, Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary, hosted the 11th President Meeting (Enlarged) in 2022. At the meeting, he conveyed and expressed his resolution to study General Secretary Xi Jinping's recent series of important instructions and the State Council's national teleconference on stabilizing the economy, as well as relevant decisions and arrangements of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. This meeting was to make special arrangements for stabilizing the growth of China Minmetals.
It was pointed out at the meeting that the 20th National Congress of the Communist Party of China would be held this year. Under the combined impact of the pandemic and the international conflict, the stable operation of China's economy is facing unprecedented challenges. As the epidemic prevention and control has improved recently, the importance of stable growth has become more prominent. The CPC Central Committee has attached great importance to the work of stabilizing growth, and General Secretary Xi Jinping clearly put forward the major requirements of "preventing the pandemic, stabilizing the economy and ensuring safe development". The State Council has held several meetings to study and unveil a package of policies and measures to stabilize the economy. The SASAC convened a national teleconference on stabilizing the economy, urged the steering group to supervise and survey China Minmetals, and further put forward specific requirements for high-quality and stable growth.
The meeting emphasized that since the beginning of this year, China Minmetals had withstood the pressure and outperformed the market. At the same time, with the continuous increase of a series of risks, stable growth is faced with more severe challenges. We should further integrate our thoughts and actions into the major judgments of the CPC Central Committee with Comrade Xi Jinping as the core on the current economic situation and its major decisions and arrangements for economic work, and resolutely implement the decisions and arrangements of the CPC Central Committee, the State Council and the SASAC. Besides, we should consolidate our confidence, rise to the challenges, ensure high-quality and stable growth, and make more contributions to stabilizing the overall economy and promoting stable and sound economic and social development.
The meeting put forward five requirements for work in the next step:
First, focus on the tasks and goals for the year, and make more contributions to the stable growth of central state-owned enterprises in the first half of the year. We should focus on the tasks to be assessed by the SASAC and firmly pursue our budget goals. All enterprises under China Minmetals should closely review and judge the situation, quickly identify the position, decompose the tasks, and achieve their "small goals" to ensure the realization of the "big goals" of China Minmetals. Those with a better profit growth should make persistent efforts for more contributions; while those with unrealized tasks should put more efforts for goal realization. It is necessary to further improve the plan for stabilizing growth, arrange indicators under the premise of compliance with laws and regulations, and formulate the corresponding incentive measures.
Second, fully promote the resumption of work and production. We are bound to beat the COVID-19 outbreak, but we still have a long way to go. Metal mining enterprises under China Minmetals should seize the favorable opportunity when the market price is still high, and continue to uphold the business philosophy of "fast excavation and selling, full production and sales" to create the maximal economic benefits. Engineering construction enterprises under its umbrella should quickly return to their original positions, enter the fast lane for resumption of work and production, make up for the lost time to catch up and recover the losses to the greatest extent possible. Trade enterprises under its umbrella should insist on the business policies of "putting both ends of production process on the world market with the production of laws and contracts; maximizing the imports and exports", and continue to undergo transformation and upgrading. Finance and real estate enterprises under its umbrella should follow the principle of stable operation and speed up the disposal and revitalization of stock assets. The headquarters of China Minmetals should strengthen the overall planning, give full play to the platform role of the dispatch meeting, and promote the "four beams and eight columns" to complement each other and bring out the best in each other.
Third, intensify the efforts of market expansion. We should make full use of the package of national policies and measures to stabilize the economy, and seize the opportunities that China deeply implements major regional strategies and regional coordinated development strategies and make moderately advanced infrastructure investments. The main leaders should take the lead in grasping the market opportunities, organize elites to enter the market and make great efforts to develop a number of "high-tech, comprehensive and large" projects. We should support subsidiaries to formulate and improve relevant supporting systems by complying with laws and regulations and "implementing policies tailored to the enterprise", so as to protect the enthusiasm for market development. We should make good use of the domestic market worth RMB 100 billion, tap the potential of domestic high-quality industrial projects, promote major projects to reach the target and deliver results as scheduled, and accelerate the promotion and application of new technologies and products. We should strengthen research on investment policies, support the initiation and approval of new projects, push project investment to a new level, and create new growth engines.
Fourth, constantly reduce the cost of each link and prevent and control risks. We should follow the idea of 'living on a tight budget" and the concept that "saving a penny is easier than making a penny", and strictly and carefully control costs and expenses. We should carefully study and sort out the risks of engineering projects in hand, and adjust the strategy according to the changes in the environment. We should resolutely implement the relevant decisions and arrangements of the national teleconference on work safety and video conference on work safety of central state-owned enterprises, effectively respond to extreme disastrous weather, and ensure the overall stability of work safety. We must always adhere to the general "dynamic zero-COVID policy" for epidemic prevention and control, and ensure the rigorous, efficient and orderly operation of the epidemic prevention and control command system. We should continue to promote the implementation of special comprehensive governance action and audit rectification.
Fifth, vigorously mobilize and protect the enthusiasm, dynamism and initiative for entrepreneurship. Leaders should serve as the mainstay of the enterprise, vigorously promote the entrepreneurial spirit, and have the courage to take the responsibility. Besides, they should also take the lead in working hard, strive to create a good atmosphere for entrepreneurship, form ideological consensus and action consciousness, and promote the progress of stabilizing the growth.
At the meeting, the Finance and Treasury Division and the Enterprise Management Division reported on budget performance, and on production, operation and resumption of work and production of China Minmetals, respectively. MCC, Hunan Nonferrous Group, China Tungsten and Hightech Materials Co., Ltd., Strategy Development Division, HSE Division of China Minmetals reported on the related work respectively.
Leaders of China Minmetals including Liu Caiming, Jiao Jian, Zhu Kebing, Wang Shilei and Chen Jianguang attended the meeting. Other participants included non-executive managers, heads of the Discipline Inspection and Supervision Team, the headquarters departments, directly-affiliated organizations and directly-managed enterprises of China Minmetals.
