China Minmetals and China Resources Group Sign a Strategic Cooperation Framework Agreement

On December 9, the signing ceremony for the strategic cooperation framework agreement entered into between China Minmetals Group Co., Ltd. and China Resources Group was held in Shenzhen City. Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, and Mr. Wang Xiangming, Chairman of China Resources Group, attended the signing ceremony. Before the signing ceremony, both parties had in-depth discussions about the cooperation in the fields of new energy materials, financial services, city building, development & operation, and infrastructure construction.

Guo Wenqing outlined the achievements gained since the strategic restructuring of China Minmetals and MCC (both among the Fortune Global 500). He said that in recent years, China Minmetals had always been following the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and thoroughly applying the guiding principles made by General Secretary Xi Jinping in his speeches about the reform and development of state-owned enterprises. He also pointed out that guided by the strategic goal of 'quadrupling in three steps', China Minmetals was working hard to move toward a new stage of high-quality development by focusing on the business system featured by 'four beams and eight columns'. At present, China Minmetals has accumulated powerful strength and capital and talent advantages in metallic ore industry, metallurgy development, trade & logistics, and finance & land property. The assets under the management of China Minmetals now reach RMB 2.16 trillion, and the business revenue in 2019 exceeded RMB 600 billion, making China Minmetals rank 92nd among the Fortune Global 500.

Guo Wenqing pointed out that, China Minmetals was earnestly studying and implementing the guiding principles of the fifth Plenary Session of the 19th CPC Central Committee, unwaveringly pursuing the new development philosophy, and actively integrating new development principles into the new development pattern. China Minmetals and China Resources Group have established a close cooperative relationship in various aspects, and there is a vast space for further cooperation. The two companies have cooperated for many projects in financial services, estate development, urban construction and operation, especially the graphite project developed and invested jointly in Heilongjiang Province, which made great profits in the year of investment. During the 14th Five-year Plan period, China Minmetals will further increase its investments. Both parties are expected to give full play to the strength of the strategic cooperation in accordance with the principles and direction established in the Framework Agreement, further expand and deepen the cooperation and form a closer partnership, thereby promoting and realizing higher-grade and higher-level mutual benefits.

Wang Xiangming gave an introduction to the historic evolution and business development of China Resources Group. He held that both parties could cooperate with each other in various aspects and ranges in a vast space to promote the co-development of businesses. He also pointed out that in the present situation in which the world was undergoing unprecedented changes, both parties shall render each other valuable support through cooperation and seek common development, thereby upholding the common interests of both parties. In recent years, both parties have established a good cooperative relationship for both groups and businesses, and have laid a solid foundation for cooperation. As China has entered a new stage of development, both parties are expected to further strengthen the cooperation and communication under the guidance of the Fifth Plenary Session of the 19th CPC Central Committee, and fulfill all tasks according to the agreement. Both parties should also strengthen comprehensive cooperation in various areas, and make joint contributions to China's second centenary goal.

At the signing ceremony, in the presence of Mr. Guo Wenqing and Mr. Wang Xiangming, Mr. Liu Caiming, China Minmetals' Vice President, Chief Account and Party Group Member, and Mr. Li Fuli, Vice President and Chief Accountant of China Resources Group, signed the Strategic Cooperation Framework Agreement on behalf of both parties.

Under the cooperation agreement, both parties will, on the basis of the existing cooperation, fully leverage their respective advantages, follow the fundamental principle of mutual complementarity, market orientation, and mutual benefit and carry out comprehensive strategic cooperation in various sectors in finance, intelligent manufacturing, new energy and new materials, health care for the elderly, smart park, city building, development & operation, and state-owned enterprise reform to catch up with world first class enterprises.

Jiao Jian and Wang Shilei, both acting as China Minmetals' Vice President and Party Group Member, and Ma Lu, Director of China Resources Group attended the event. Present at the event were Lan Yi, Secretary General and Office Director of China Resources Group, Tang Yong, President of CR Power, Li Xin, President of CR Land, Ren Haichuan, General Manager of CR Capital, Qin Feng, General Manager of CR Capital MGMT, Shi Hongchao, Deputy Director of Strategy Department of CR Capital MGMT, as well as leaders of China Minmetals' head offices, directly-managed enterprises and affiliated enterprises, including Wang Jionghui, Xue Fei, Zhang Mengxing, Liu Fuming, Zhu Guangxia, Xing Yan, He Jianbo, Li Zhongze, Xiong Xiaobing, Wei Tao, Zhao Ligong, and Gao Wujiu.