Metallurgical of China : Guo Wenqing Attends and Addresses the 22nd Central Enterprises Think Tank Salon and the 2nd China Minmetals Economic Forum

Guo Wenqing Attends and Addresses the 22nd Central Enterprises Think Tank Salon and the 2nd China Minmetals Economic Forum

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On August 26, with the theme of 'Analysis of Current Economic Entity and Metal Commodity Prices', the 22nd Central Enterprises Think Tank Salon and the 2nd China Minmetals Economic Forum was successfully held in Minmetals Plaza. Guo Wenqing, the 3rd Chairman of the Alliance of Central Enterprise Think Tanks, General Manager of China Minmetals, Deputy Secretary of the leading party groupof China Minmetals, and Chairman of MCC, attended the meeting and delivered a speech entitled 'Focus on the New Development Pattern and Give Full Play to the Role of Central Enterprise Think Tanks'.

Guo Wenqing pointed out that since the founding fouryears ago, the Alliance of Central Enterprise Think Tanks has firmly and continuously implemented the spirit ofimportant instructions made by General Secretary Xi Jinping on 'Strengthening the construction of new-type think tanks with Chinese characteristics'. By earnestly studying and implementing the policies issued by the CPCCentral Committee and the State Council on the state-owned enterprise reform and development, the group centers itself on advancing the central enterprise reform and development as a think tank and adviser, continuously improving service capabilities, optimizing sharing mechanisms, and producing more valuable strategies and suggestions on this. Facing the critical moment of ushering in the overall strategy of the great Chinese rejuvenation and the unresting global changes unseen in the last century, the group has organized themed salons so as to explore more about the current economic entity and commodity prices. Scientific situational analysis for grasping the general development trend can help us produce accurate and feasible countermeasures for economic development, industrial upgrading, and improving enterprise performance, and provide think tank support for the industrial supply chain security in China.

Guo Wenqing stated that China Minmetals, as the 3rd chairman enterprise, has strictly fulfilled its duties and obligations, providedthe wholehearted and quality services to member units, and playedthe organizingrole asa platform and the leading role as an industry pioneer. As a state-owned capital investment company in the field of metals and minerals, China Minmetals, reconstructed after integrating the two Fortune 500 companies of the former China Minmetals and MCC, has taken the responsibility and acted as 'the main force of resource guarantee and the national metallurgical construction team' under the strategic guidance of 'quadrupling profits in three steps' in recent years. Meanwhile, it has taken the lead in opening up the entire metal mining industry chain layout globally, forming differentiated competitiveness over other mining giants. As its operating performance has grown steadily together with the industrial influence and the right to speak, China Minmetals ranks 92nd among the world's top 500 companies in 2020, of which the operating income achieved a surprising increase of 10% in the first half of the year.

Guo Wenqing pointed out that currently, the complicated and changeable economy and the rampaging epidemic around the world threw the world economy into a deep recession. Economic globalization had encountered a countercurrent while and the reconstruction of the global industrial chain supply chain had been accelerated. General Secretary Xi Jinping has repeatedly emphasized that efforts should be made to cultivate new opportunities amidst crises and to create new patterns amidst changes so that a new development pattern with the domestic market as the focus and domestic and international markets promoting each other can be gradually formed. Many important meetings surrounding the industrial chain supply chain had been held to give important instructions. State-owned enterprises are the fundamental component and political foundations of socialism with Chinese characteristics and also an important pillar and supportive force for the party to govern and rejuvenate the country. They act as the main force of stepping up efforts to ensure stability on six fronts and maintain security in six areas,so as to further strengthen their role as the 'pillar' of the Chinese economy and firmly protect the domestic industrial supply chain.

Guo Wenqing stated that the Alliance of Central Enterprise Think Tanks should further base itself on the mission of a central enterprise, focusing on the new development pattern, and having good performance as a think tank in three aspects:

The first one is to make professional research and judgment on the market situation. COVID-19 has had a profound impact on the world pattern, as well as security and development in China, bringing out new situations and issues to economic and social development. This critical more demands our perseverance. Only rational analysis and scientific response can help us recognize, seek, and react to changes. The Alliance of Central Enterprise Think Tanks should focus on major issues and conduct in-depth research so that more useful and reliable measures and suggestions can be proposed. Taking bulk commodity as an example, China Minmetals has actively strengthened research in the face of the supply and demand and price downturns in the first half of this year, held meetings to deploy responses, and actively explored ways to deal with industrial differentiation and changes.

The second one is to take a forward-looking angle and lead the industrial upgrading. The basis for responding to the situational changes lies in maintaining the stable and competitive supply chain of its own industrial chain, and continuously leaping towards the high end of the value chain. The restructuring of the global industrial chain not only poses challenges for China, but also brings out major opportunities for complementing, strengthening, and extending the chain. In particular, it is necessary to make breakthroughs on a number of key core technologies through innovation, take the lead in the high-end field, and occupy the commanding position of industrial development. The Alliance of Central Enterprise Think Tanks should carry out more forward-looking research in related fields to find the right direction and key breakthroughs for central enterprises and even industrial transformation and upgrading in China.

The third one is to play a role in circulating and integrating the industrial ecosystem. Promoting industrial development is by no means the responsibility for one company. It requires upstream and downstream companies to work together and cope with it. Central enterprises hold a leading position in key industries and areas that are related to national security and the backbone of the national economy. They should take the initiative to build an industrial chain supply chain with upstream and downstream enterprises so as to jointly create a benign industrial and economic ecology. The Alliance of Central Enterprise Think Tanks should give full play to its role as a platform so that the cooperation among member units and other enterprises can be enhanced through communication and the overall competitiveness of the industrial system can be improved.

Zhang Ming, Director of the International Investment Research Office of the Institute of World Economics, Chinese Academy of Social Sciences, was invited to give a keynote speech entitledMacroeconomics and Financial Markets in the Post-epidemic Era. Jin Zhifeng, President of Minmetals Economic Research Institute, gave a theme report entitledFutures (Securities) Path Choice and Profit Strategy. Zuo Geng, Wang Feihong, Wu Yue, Zhang Xun, Chen Junquan, and Song Xinxin, experts from Minmetals Economic Research Institute, respectively made reports onMarket Analysis of Steel and Iron Ore in China, Market Analysis of Zinc and Nickel Industry, Market Analysis of Copper Industry, Strategic Advantage Analysis of Metal Market, New Energy Metal Market Analysis and 'Infrastructure Real Estate Industry Market Analysis.

Leaders from China Minmetals including Jiao Jian and Ren Zhufeng attended the meeting. This salon is hosted by the Alliance of Central Enterprise Think Tanks and organized by Minmetals Economic Research Institute.A total of nearly 600 people from the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission of the State Council and other central government departments, 16 member units of the Alliance of Central Enterprise Think Tanks and their affiliated think tank institutions, 10 central media, functional headquarter departments, directly affiliated institutions and directly-managed enterprises attended the meeting through the on-site forum and 38 video conferences.

Scene of the Forum