On August 31st, MCC General Manager and President Zhang Zhaoxiang and his delegation visited Vice President Zhang Hongli at the ICBC Head Office, where they developed a friendly meeting and discussed further deepening overseas project cooperation between the bank and the enterprise.
Zhang Zhaoxiang expressed his gratitude to Vice President Zhang Hongli for his warm welcome and for ICBC's years of great support to the MCC Group. He then pointed out that the MCC Group has succeeded in transforming into non-steel fields from the ferrous metallurgy field, and taken on the new strategic development positioning of being the 'national team of metallurgical construction, the main force of capital construction and the pacesetter of emerging industries, adhering to the hi-tech construction path in the long term'. In recent years, the contract amount of the MCC Group in non-steel fields has risen to a proportion of almost 90%, however the ratio of the contract amount of overseas businesses only accounts for 6%-8% and will struggle to reach 15% by the end of the '13th Five-Year Plan'. At present, the MCC Group regards the nations along the 'One Belt and One Road' route, as well as Southeast Asia, the Middle East, and North and South America as its overseas target markets and key areas. It is hoped that ICBC can provide strong support in financing, financial services and other aspects of overseas projects. Zhang Zhaoxiang added that there is great room for improving the cooperation between the MCC Group and ICBC, and he hopes both sides will further strengthen their exchange and cooperation in related businesses.
Zhang Hongli extended a warm welcome to President Zhang Zhaoxiang and introduced ICBC's main business conditions in the first half year. Currently, ICBC has established branches in 43 countries and regions, and the ICBC Head Office's Chinese enterprises have provided a total offshore loan amount of US 50 billion with greater room for increasing that amount. ICBC has established its Special Financing Department to exclusively manage its offshore financing loan business, with a team specially responsible for country risk assessment. As for the recent cooperation between ICBC and the MCC Group on related projects, Zhang Hongli pointed out that ICBC has a financing limit sufficient for greatly supporting the MCC Group's tracking projects in Qatar and Saudi Arabia, and it has also established branches and acquired local banks in South Africa, Egypt, Indonesia, Malaysia, Singapore, Qatar, Saudi Arabia and other countries and regions focused on by the MCC Group, so that both sides can commonly bear project risk and actively promote project development. To further strengthen the cooperation between both parties, Zhang Hongli stated that ICBC will also send their overseas business team to coordinate with the MCC Group's relevant departments on key financing projects, and discuss cooperation with MCC on comprehensively developing entire credit granting, settlement, international business and other aspects.
The meeting was attended and accompanied by ICBC Financing Business Department Vice General Manager Dai Lian, International Business Department Vice General Manager Lyu Yu, Special Financing Department Senior Expert Mao Jiangqi MCC Vice President and MCC International Group Chairman Zhang Mengxing, MCC Vice President and Chief Accountant Zou Hongying and relevant principals of the MCC International Group.
