From January 3rd to 6th, China Minmetals Corporation General Manager & Party Group Deputy Secretary and MCC Chairman & Party Committee Secretary Guo Wenqing visited Hong Kong to conduct a working investigation and survey. China Minmetals Corporation General Accountant and Party Group Member Shen Ling attended the investigation and survey. Comrades primarily in charge of enterprises in Hong Kong such as H.K. (Holdings), Hong Kong Regional Representative Office, Minmetals Estate, Minmetals Cheerglory, Minmetals Resources, MCC Hong Kong Holdings, MCC Real Estate (Hong Kong), Minmetals Capital (Hong Kong) and Torch Metals Company reported their business conditions in recent years and future development plans.
On January 4th, following the positioning adjustment, Guo Wenqing heard the report of the China Minmetals Corporation’s Financial Headquarters on the overseas financing of the Group Headquarters and the work report of Hong Kong Holdings. Guo Wenqing gave his affirmation to the team of Hong Kong Holdings and the achievements it has obtained. He then made four proposals for the future development of Hong Kong Holdings:
First, strictly control the various enterprise risks and ensure the safety of overseas capital funds. Hong Kong Holdings is the barometer of the various overseas plate business development of the China Minmetals Corporation, and the stand or fall, profit and loss of its overseas businesses are manifested on that platform. The corporation should enlarge its management strength through the level of Hong Kong Holdings, carry out double-track management on the business level and property right level, reveal risks continuously and guarantee the safety of overseas capital and assets, which is the main responsibility of Hong Kong Holdings.
Second, give full play to the role of the overseas platform and enhance financial liquidity. The management thinking of the China Minmetals Corporation in creating a large platform of overseas funds and assets is correct. It is necessary to reinforce the matching of resources and the dispatching of funds, promote the concentration and management and control strength of resources and funds, and provide rapid adjustment and support for the significant project funds of the corporation on the basis of the platform. It is necessary to reinforce the reasonable liquidity and advance the service efficiency of funds.
Third, make innovations to the business model and boost the profitability of management funds. The management fund scale of Hong Kong Holdings had risen from fewer to more, and Hong Kong Holdings shoulders the placement costs. It is necessary the company to act according to its abilities and further increase profits on the basis of ensuring the coverage of costs. When the arrangements of balanced funds are finished, it will be necessary to make innovations to the business model. It is permissible to explore the asset management business, make use of the professional team, attract exterior funds and boost management fund profits on the basis of China Minmetals’ own funds. Complete the balance of the safety and profitability of funds, avoid potential risks and safeguard fund safety.
Fourth, stably continue the connection to ensure the persistence and synchronicity of enterprise operation. The main overseas assets of the China Minmetals Corporation are concentrated on the platform of Hong Kong Holdings. Hong Kong Holdings should realize its close connection with the corporation's functional departments and relevant business units, and completely fulfill the responsibility endowed by the corporation. It must not engage in investment in risk-taking, games and gambling, thereby guaranteeing the stable growth and long-term balanced development of the company.
On January 5th, Guo Wenqing hosted and held the meeting of enterprises in Hong Kong. He fully affirmed the enterprises and teams in Hong Kong, and pointed out that the growth of the Hong Kong enterprises is good, and the spiritual states of the leaders and cadres are favorable, as they cohere their hearts and power and devote their minds to enterprise development. Guo Wenqing then gave important instructions in four aspects:
First, the enterprises in Hong Kong should give full play to their respective advantages and allocate superior resources reasonably. After the recombination of Minmetals and MCC, their asset scale is bigger, their business scope is wider and they possess stronger management and professionalization teams. The corporation should complete its top-level design, enhance overall planning and strategic leadership, make the strategies of various regions explicit on the basis of the overarching strategy of the Group, clarify the enterprise positioning and make efforts towards achieving the confirmed goals. Hong Kong Holdings should give full play to its role as the platform of overseas capital and assets. On the basis of existing businesses, Minmetals Estate should stand in Hong Kong and actively expand its overseas businesses. MCC Overseas’ Hong Kong Company should give full play to the C board advantage of Hong Kong to expand the construction of more projects in Hong Kong and Macao. Minmetals Cheerglory should stand on the height of the Group, plan large trade in the Hong Kong and Macao region as a whole, continue its excellent management models and become the ‘elite troop’ of the development of Minmetals. Minmetals Resources must continue making use of the listed company to focus on the development of mineral resources. All the operational units of the Group must enhance their coordination of superior resources. In fields with mutual synergy concerning businesses, it is necessary to enhance integration and coordination. The personnel of the enterprises should strengthen their exchange, deepen their knowledge of their fellow enterprises and businesses, and give full play to their respective strengths. The functional departments of the Group should also give full play to their navigation role and realize the goal of creating an RMB 1 billion internal market next year.
Second, conduct intensive farming and intensify management. At present, market competition is fierce and the obtaining of projects is more difficult. We face both the difficulties brought by the market and the difficulties in operation and management. It is necessary for us to make up the shortcomings of management on cost control. We must carry out the intensive farming of every project with ‘eyes looking inward, palms facing down, practicing internal strength, excavating potential and creating benefits’. It is necessary to embody the spirits of ‘driving nails’ and ‘squeezing sponges’, and excavate our interior potential. All operational units should enhance their operation management, including team management, and strictly prevent extravagance, being generally accepted without analysis.
Third, make decisions scientifically and carefully, and strictly control diverse risks. As the enterprises and listed companies in Hong Kong have managerial particularities, it is necessary to make decisions scientifically, democratically and carefully. It is also necessary to handle affairs according to the procedures and carry out our duties well. The principals of central enterprises need to be constantly vigilant about what should and what shouldn't be done. Operating decisions should be made on the basis of full demonstrations and research. It is necessary to meticulously analyze and completely master the authentic materials. Leaders and cadres should cultivate the habit of careful decisions, study and judge repeatedly, deeply and earnestly, and strictly control risks.
Fourth, reinforce work style construction and promote the long-term stable development of enterprises. One must be strong to forge iron. The cadres and staff of the Hong Kong enterprises represent central enterprises. It is necessary for them to constantly measure themselves on the basis of the requirements of the Central Committee. It is also necessary to be adept at distinguishing between right and wrong, and to manage strictly. The teams in the Hong Kong enterprises must strengthen their convictions, keep their missions firmly in mind, make strict requirements, forge a first-class operational team with a deep knowledge of enterprises, businesses and Hong Kong, and promote the long-term and stable development of the enterprises.
During his visit to Hong Kong, Guo Wenqing met K. Wah Group Chairman Lyu Zhihe, Reform Holdings Deputy Chairman and International General Manager Zhou Yuxian and China CITIC Bank Director and Xinyin International Chairman Sun Deshun, conducted deep exchanges with them and expressed willingness to engage in all-round cooperation. The delegation led by Guo Wenqing also inspected Minmetals Estate’s Yau Tong Residential Project and exhibition hall, and paid official visits to such Hong Kong institutions as Moody's, Wing Lung Bank and Industrial Bank.
The above activities were attended by China Minmetals Corporation Strategy Development Division Director Xue Fei, Financial Head Office Director Zhang Shuqiang, Enterprise Management Division Director Mo Chunlei, Capital Operation Center Director Xiong Xiaobing, Financial Head Office Deputy Director Chen Xingwu and others.
Guo Wenqing gives important instructions
Guo Wenqing hosts the meeting of enterprises in Hong Kong
Guo Wenqing investigates and surveys the Hong Kong Holdings Company
Guo Wenqing investigates and surveys the Hong Kong Holdings Company
Guo Wenqing investigates and surveys the Hong Kong Holdings Company
Guo Wenqing inspects the exhibition hall of MCC Real Estate’s residential projects
