On September 27th, China Minmetals and China Baowu signed a strategic cooperation agreement in Shanghai. Weng Zuliang, the Party Group Secretary and Chairman of China Minmetals, and Hu Wangming, the Secretary of the Party committee and chairman of China Baowu, witnessed the signing ceremony and held a working meeting.

Weng Zuliang expressed his gratitude to China Baowu for its strong support to China Minmetals. He also provided a brief overview of China Minmetals' business system featured by "four beams and eight columns" and its operation and development in recent years. He stated that China Minmetals has always been following the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and undertaking the founding mission of serving and reinvigorating the country through metal mining industry. Besides, China Minmetals continues to enhance its competitiveness and capacity to ensure stable supplies and prices of mineral resources. In 2022, China Minmetals achieved an operating income of nearly 900 billion yuan. So far this year, China Minmetals has maintained a positive momentum and solid step for high-quality development. Weng hoped that China Minmetals and China Baowu would leverage their respective professional advantages, and actively serve national strategies, industry development, and their key responsibility and major business. Focusing on the integrated development of industrial and supply chains, both sides can innovate cooperation modes, expand and deepen their cooperation, so as to achieve more mutually beneficial results.

Hu Wangming extended a warm welcome to Weng Zuliang and his delegation to China Baowu, and he introduced China Baowu's joint restructuring, strategic development, production, and operation. He mentioned that China Baowu is actively addressing the challenges in the steel industry. Focusing on high-end, intelligent, green, and efficient production, China Baowu is accelerating its international development, and striving for high-quality growth. China Baowu and China Minmetals have a long history of cooperation. China Baowu's journey to becoming a world-class enterprise has been made possible with the support of important partners like China Minmetals. Hu hoped that both sides strengthen strategic and deep cooperation, collaborate on innovation in relevant fields, and drive the implementation of more cooperative projects.

Wang Shilei, Party Group Member and Vice President of China Minmetals, and Zou Jixin, Standing Committee Member of Party Committee of China Baowu and Chairman of Baosteel, respectively representing the two companies, signed the agreement. According to the agreement, both sides will focus on advancing the reform of state-owned capital investment companies and building world-class leading enterprises. They will strengthen collaborative efforts in areas such as the transformation and upgrading of the steel industry, international production capacity cooperation, deepening smart manufacturing, low-carbon clean production, mineral resources, trade logistics, environment and green resources. Such cooperation aims to better leverage the strategic support provided by central state-owned enterprises in terms of technological innovation, industrial control, and safety assurance.

Chen Jianguang, Party Group Member and Vice President of China Minmetals, and Wang Jiming, Standing Committee Member of CPC and Vice President of China Baowu, participated in the event.