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China metallurgy: Guo Wenqing meets Ouyang Weimin, president of the Development Bank of China

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On September 17, Guo Wenqing, general manager and deputy secretary of the China Minmetals party group, and simultaneously chairman of the MCC, met with Ouyang Weimin, chairman and deputy secretary of the CPC Committee of the China Development Bank and his delegation. The two sides had a deep and friendly exchange on strengthening cooperation.

Guo Wenqing welcomed the visit of Ouyang Weimin and his delegation, thanked the Development Bank of China for its strong long-term support to China Minmetals and MCC, and presented the development history of the two Fortune Global 500 companies. and development achievements since the strategic restructuring. . Guo Wenqing mentioned that China Minmetals, established in 1950, transformed and developed into an industrial group with metallic minerals as the main activity of a single foreign trade enterprise. MCC, established in 1948, is a true national metallurgical construction team as it undertook the planning, study, design and construction of almost all large production facilities of large and medium steel enterprises in China. In December 2015, when the two companies began to restructure, China Minmetals suffered from negative internal and external issues, such as the urgent need to reshape its trading system and the low prices of major metals. In addition, it also faced severe loss of business performance and a crisis in business development. After this transition, in line with the strategic goals of quadruple profits in three steps, China Minmetals took a series of imperceptible but powerful reform measures to successfully meet the annual performance targets with the entire company working hard and going forward steadily and safely. In addition, China Minmetals continued to focus on metal mining, metallurgical construction, trade logistics, financial real estate construction and stuffing of the “four beams and eight columns” trading system. Finally, he successfully started a remarkable journey to bounce back and struggle to save himself. Currently, their assets under management reach 2.16 trillion RMB, and their operating income exceeded 600 billion RMB in 2019, ranking 92nd among Fortune Global 500 companies.

Guo Wenqing pointed out that currently, China Minmetals is following the directive and requirements to “ foster a new development paradigm with national circulation as a pillar and mutually reinforcing national and international circulation ” proposed by Secretary General Xi Jinping. . By making full use of its significant advantages of being highly internationalized and making better use of both international and domestic markets and resources, the company hopes to achieve better development. In addition, China Minmetals, as one of the key large-scale state-owned enterprises, always adheres to its business concept of stability, which means it would rather do one less project than drill a hole. Furthermore. Due to its cautious attitude, China Minmetals selects the development project very strictly and takes the risk of going for the hard-won property. This act reflects his sense of responsibility for the healthy and sustainable development of the company and all its partners. China Development Bank, as a loyal and reliable partner in the development of China Minmetals and MCC, has provided a number of financial services to support their development. It is hoped that the two sides will further strengthen exchanges and relations, expand their areas of cooperation, and jointly promote deeper, mutually beneficial and win-win cooperation.

Ouyang Weimin thanked Guo Wenqing for his warm welcome and praised the development and achievements of China Minmetals in recent years. He said the China Development Bank is the world’s largest development financial institution and the largest medium and long-term credit and bond bank in China. In recent years, the China Development Bank has achieved rapid development. It would never be what it is today without the strong support of major state-owned companies. As a responsible public enterprise, China Minmetals has always been a service object of great importance in the industry. To truly reflect China Minmetals’ high-quality service consciousness and development support, CDB will further provide more abundant overseas loan lines and credit lines for China Minmetals according to its business characteristics and of its types of activity, and will launch in the medium and long term. comprehensive and comprehensive credit, investment and financial services. It is hoped that the two sides will establish a regular communication system for better monitoring of business development, thus producing higher quality cooperation achievements.

Liu Caiming, deputy general manager, chief accountant and member of the Party group of China Minmetals, and Jiao Jian, deputy general manager and member of the party group of China Minmetals, as well as Zhou Yuqing, vice chairman and member of the CPC Committee of the Chinese Development Bank attended the meeting. Zhao Yaozhong, Zhou Rongwei, Liu Peiyong, Liu Tong, Wu Jun and Jiang Daoguo from the China Development Bank, and Zou Hongying, Zhang Shuqiang, Zhao Ligong, Zhang Hongjin, Zhu Lina and Chen Hui from the relevant departments and directly managed enterprises from China Minmetals attended the meeting.

Guo Wenqing had a cordial conversation with Ouyang Weimin

Meeting scene

Phone of Guo Wenqing and Ouyang Weimin

Group photo of the meeting

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