On October 28th in Beijing, MCC Standing Party Committee Member and China MCC Vice President and Chief Accountant Zou Hongying made an official visit to meet China Life Insurance (Group) Company CIO, CLAMC President and China Life Investment Holding Company Limited President Wang Junhui. A cordial and friendly conversation was conducted between both parties. They also exchanged ideas on such issues as deeper cooperation in PPP projects, the revitalization of group assets and so on.
Zou Hongying first introduced the performance of the MCC Group in recent years, its good development trend and the progress of the strategic recombination with CMC. In the field of traditional metallurgy, MCC keeps an absolute market share all the time. Along with the macro strategic adjustment, 'being the national team of metallurgical construction, the main force of capital construction and the pacesetter of emerging industries, taking the road of high-tech construction in the long term' has been taken as the new strategic positioning of MCC in order to accurately inject strength into and gain the initiative in traditional infrastructure construction, high-end housing construction and such emerging industries as energy conservation and environmental protection, underground pipe galleries, sponge city and beautiful countryside & smart city technology, the health and pension industry, theme parks, etc. Last year, the two Top 500 companies of CMC and MCC started a strategic recombination based on building a world-level metal mining group, which will definitely inject new development vitality into the enterprise.
In recent years, MCC has grasped the market direction in good time to actively participate in the investment and construction of PPP projects, achieving certain effects. Meanwhile, MCC has strict admittance criteria for projects to control their risks, which is consistent with the safety requirements of venture investment. China Life Insurance is a heavyweight enterprise group in the insurance field. It has great advantages in property management. Moreover, China Life Insurance has successfully invested in several PPP projects in various regions, which indicates board prospects for cooperation between both parties.
Wang Junhui pointed out that China Life Insurance has always paid close attention to the development of the MCC Group, and it has higher expectations for MCC after the integration with CMC. CLAMC is one of the most important investment managers in China. It manages assets of its subordinates valued at over RMB 2.6 trillion, and that amount will continue to increase at great speed. As such, CLAMC hopes to realize capital investment in batches in the future through establishing long-term cooperation relationships with SOEs, Top 500 companies and leading enterprises in different industries. At present, the investment orientation of insurance capital is gradually being released. The long-term stability and appropriate earning degree of insurance capital naturally agrees with PPP projects. On the basis of good risk control, investing in PPP projects will help to give full play to the advantages of insurance capital, and realize linked development with the main insurance work and the same internal business resources.
At the meeting, both parties stated that they will establish a cooperation relationship as soon as possible and promote the formation of the PPP-type financing cooperation model. Meanwhile, in such fields as revitalizing stuck assets, real estate investment and so on, they will also strengthen their cooperation to realize complementary advantages and mutual development.
The meeting was attended by CLAMC Direct-investment Innovation Department General Manager Zhao Hui, Project Manager and Team Leader Lu Xuehua, China MCC Funds Department Vice Minister, MCC Jianxin Fund Company Vice General Manager Ye Zhixiang and others.
