On July 21, 2025, China Minmetals convened its 2025 mid-year economic performance review meeting to convey and study the spirit of the Seminar of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) for Leaders of Central State-owned Enterprises (central SOEs), review first-half achievements, and outline key tasks for the second half of the year. Chen Dexin,  Chairman of China Minmetals, presided over and addressed the meeting. Zhu Kebing, President of China Minmetals presented the work report for the first half. Zhang Jingyi, Director of the Third Bureau of Enterprise Auditing under the National Audit Office, and others were invited to attend the meeting. External directors and leading group members of China Minmetals were present. 

The meeting noted that in the first half of the year, China Minmetals resolutely implemented decisions and plans of the CPC Central Committee and the State Council under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and all cadres and employees worked together to actively respond to unfavorable situations and challenges both internally and externally, achieving a series of fruitful results. China Minmetals strengthened political guidance, prioritizing the study and implementation of General Secretary Xi Jinping's important speeches and instructions as the primary task. The corporation strengthened systematic advancement, strategically positioning and executing its key initiatives, including corporate strategy, operations, and technology, through concepts, objectives, pathways, measures, and mechanisms. It reinforced a pragmatic work ethic centered on problem-solving, efficiency-driven principles, and taking the lead in action and setting an example. This approach has further enhanced the corporation's healthy political ecosystem characterized by integrity, progress, greater good, harmony and stability. At the just concluded Seminar of the SASAC for Leaders of Central SOEs, China Minmetals delivered an exemplary presentation and was awarded Grade A in both the 2024 annual and 2022-2024 tenure assessments for operating performance of leaders of central SOEs. 

The meeting pointed out that in the first half of the year, the whole Group made concerted efforts centered on the operating principles of stabilizing growth, driving innovation, strengthening industries, advancing reform, preventing risks, ensuring safety, and enhancing Party building to establish an economic operation management system focused on financial control, achieving steady progress in production and operation as well as both half-year targets. China Minmetals achieved record-high operating performance driven by ambitious goal-setting, continued to improve its resource security capacity by unwaveringly implementing the "resources-first" strategy, made new strides in sci-tech innovation through persistent efforts under the "Five Focuses" initiative, and further intensified management and control as part of its ongoing efforts to deepen reforms. However, the meeting emphasized that fulfilling the full-year objectives will present significant pressure and greater responsibility in the second half of the year. Therefore, the corporation must further instill a "prudent household management" philosophy, comprehensively strengthen operational management, and tangibly improve the quality and efficiency of economic operations; uphold sci-tech innovation as the driver to accelerate the development of new quality productive forces; address rectification, standardization, and risk mitigation to expedite business transformation and upgrading; speed up the development of a digital platform to establish a penetrative supervision system; resolutely implement responsibilities at all levels to safeguard the red line of work safety; and formulate high-quality plans to coordinate near-term tasks and long-term ones. 

The meeting emphasized the need for high-quality Party building to drive high-quality development, providing a strong guarantee for the full accomplishment of annual objectives. China Minmetals should thoroughly study and implement the guiding principles from the important speeches, instructions, and directives by General Secretary Xi Jinping, further demonstrating the commitment of China Minmetals; advance Party organizations from "physical coverage" to "effective functioning", further enhancing organizational efficacy; build a high-caliber contingent of cadres and professionals, further embodying the spirit of "pragmatic action"; leverage the value-creating role of publicity, ideological, and cultural work to further boost morale and foster cohesion; and continually advance full and strict governance over the Party to further purify the political ecosystem. The meeting called for breaking mental barriers to achieve reform breakthroughs, striving to create new situations in the following four aspects to energize high-quality development: driving sci-tech innovation through the "Five Focuses" initiative; revitalizing industries through "Three Transformations" (digitalization, greening, and high-end upgrading); innovating mechanisms via the "chain leader system"; and renewing mindsets by "blending trade and industrial mindsets, and integrating construction and smart manufacturing thinking". The meeting stressed the need to systematically formulate China Minmetals' plan for the “15th Five-Year Plan” period to navigate uncertainties, stabilize the overall situation, and chart a new course. Specifically, China Minmetals should deeply study and comprehend the guiding principles from important instructions of General Secretary Xi Jinping on the preparation of China’s 15th Five-Year Plan, understand the overall requirements and fundamental principles of China Minmetals for the preparation of the plan for the “15th Five-Year Plan” period; use the "overriding principle of high-quality development" as the benchmark to further refine the strategic directions of all lines of business under China Minmetals’ plan for the “15th Five-Year Plan” period; and further improve the corporate governance and management system of China Minmetals. 

The meeting further stressed the necessity to balance development and security, using high-level security to underpin high-quality development. China Minmetals should intensify efforts to promote the Amoeba management model, and tap internal potential to reduce costs and enhance efficiency, ensuring the achievement of full-year operational targets. The corporation should also persistently advance rectification to consolidate and build upon its effectiveness. 

The meeting also reported budget execution, progress in addressing loss-making subsidiaries, and safety and environmental protection performance in the first half of the year. Hunan Nonferrous Metals Holding Group Co., Ltd., Changsha Institute of Mining Research Co., Ltd., Las Bambas Mine, China MCC22 Group Corporation Ltd., WISDRI Engineering & Research Incorporation Ltd., Qinghai Huixin, and MCC Baosteel Technology Services Co., Ltd. delivered presentations on their experience across seven key areas, namely, stabilizing growth, driving innovation, strengthening industries, advancing reform, enhancing Party building, profit & loss management, and cost reduction and efficiency enhancement. 

The meeting was conducted via a combination of in-person and video-linked attendance. Participants included members of the Discipline Inspection Committee stationed at China Minmetals, senior executives of China Minmetals outside the leading group, and leading group members and relevant personnel from headquarters departments, directly-managed enterprises and key subsidiaries.