On December 10, China Minmetals and China Merchants Group (CMG) signed a strategic cooperation framework agreement in Shenzhen City.
Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, and Dr. Hu Jianhua, CMG's President, attended the signing ceremony. Before the ceremony, the two parties had in-depth exchanges on further strengthening cooperation.
Mr. Guo Wenqing introduced the development achievements of China Minmetals and China Metallurgical Group Corporation (MCC) (both as Fortune 500 companies) since the strategic reorganization. He said that in recent years, China Minmetals had thoroughly implemented the guiding principles made by General Secretary Xi Jinping in his speeches about the reform and development of state-owned enterprises, and made steady progress towards the goal of a world-class metal and mineral enterprise. In the field of metal mining, China Minmetals has rich mineral resources including copper, nickel, lead, and zinc, and successfully operates many world-class mines. In the fields of metallurgy and construction, China Minmetals firmly occupies 90% of the domestic market share and 60% of the international market share, and has achieved excellent results in transportation and municipal projects, large complexes, theme parks, super high-rise buildings, sewage treatment, waste incineration, and prefabricated buildings. In the fields of trade and logistics, China Minmetals has established trade offices in more than 60 countries and regions around the world and large logistics industrial parks in cities such as Guangzhou, Wuxi, and Lanzhou. In the fields of finance and real estate, China Minmetals has full financial licenses, strong investment and financing capabilities, and resource allocation capabilities. Two of China Minmetals's subsidiaries - Minmetals Land and MCC Real Estate, enjoy high reputation in the industry.
Mr. Guo Wenqing pointed out that since the strategic reorganization, under the guidance of the strategic goal of 'quadrupling in three steps,' China Minmetals had made every effort to boost itself into a new stage of high-quality development around the business system featured by 'four beams and eight columns', and made beneficial explorations for the reform of SOEs. He also pointed out that China Minmetals was now thoroughly implementing the guidelines from the fifth Plenary Session of the 19th CPC Central Committee and unswervingly practicing a new vision of development, striving to fully contribute to speeding up the construction of a 'dual circulation' development pattern in which domestic economic cycle plays a leading role while international economic cycle remains its extension and supplement. He stated that since CMG featured a large scale, strong profitability and diversified businesses, the cooperation between CMG and China Minmetals would unleash great potential and bring a wide range of cooperation opportunities. It is hoped that both parties will take this agreement as an opportunity to further strengthen their communication and exchanges, promote comprehensive and practical cooperation, and constantly promote the common development and value increase for both parties.
Dr. Hu Jianhua introduced the overall operation and development of CMG. He said that despite the great impact brought by the COVID-19 pandemic on business operations in the first half of this year, CMG had resolutely implemented the decision and deployment of the CPC Central Committee and the work requirements of the State-owned Assets Supervision and Administration Commission of the State Council and steadily promoted the resumption of work and production. As a result, its overall business stabilizes and continues to improve in the second half of the year. At present, CMG is sprinting to achieve the annual goals and tasks and striving for better development performance. He said that both as Fortune 500 companies and backbone central SOEs, CMG and China Minmetals could well complement each other in businesses and have a large space for cooperation. He stressed that for a long time, the two parties had maintained a good cooperative relationship in shipping logistics and urban park construction; therefore, the signing of the agreement would further enhance mutual trust, intensify cooperation between the two sides in various fields, and achieve mutual complementarity in the interest of common development. It is hoped that both parties will work together to promote the implementation and initial success of the agreement.
At the signing ceremony, under the witness of Mr. Guo and Dr. Hu, Mr. Liu Caiming, Deputy General Manager, Chief Accountant, and Party Group Member of China Minmetals, and Dr. Wang Hong, CMG'S Executive Vice President, as representatives of their own parties signed the strategic cooperation framework agreement. The signing ceremony was hosted by Mr. Zhou Song, CMG's CFO.
According to the agreement, the two parties will establish strategic cooperation and coordinate resource allocation for common development. The key points of the agreement is 1) to strengthen cooperation between the two parties in shipping logistics; port trade; park investment, construction & operation; new urbanization construction; exploration and development of deep-sea mineral resources; finance; global expansion; the reform SOEs and talent exchanges; 2) to promote the market position and improve comprehensive competitiveness of both parties and 3) to achieve mutually benefitting and win-win development.
After the signing ceremony, Mr. Miao Jianmin, Chairman of CMG, warmly received Mr. Guo and his delegation. They held talks in a friendly atmosphere.
Mr. Ren Zhufeng and Mr. Wang Shilei, both acting as Deputy General Manager and Party Group Member of China Minmetals, attended the event. Other participants in the event were Mr. Li Zhonghan, Head of the International Business Department of CMG; Ms. Su Min, Deputy Director of CMG Finance Executive Committee; Mr. Jiang Tiefeng, General Manager of China Merchants Shekou Holdings; Mr. Bai Jingtao, CEO of China Merchants Ports Holdings Company Limited (CMPort); Mr. Wang Yongxin, General Manager of China Merchants Energy Shipping Co., Ltd. (CMES); Mr. Liu Zhenhua, Deputy Director of CMG General Office; Mr. Zhao Jintao, Deputy Director of CMG Strategy and Development Department and heads of relevant headquarters departments, directly-managed enterprises and affiliated enterprises of China Minmetals, including Xue Fei, Zhang Mengxing, Liu Fuming, Zhu Guangxia, Xing Yan, He Jianbo, Li Maolin, Xiong Xiaobing, Wei Tao, Zhao Ligong and Gao Wujiu.
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