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Guo Wenqing Meets Hong Kong Exchanges and Clearing Limited CEO Li Xiaojia
CopyFrom: Date:08 September 2017
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  On September 7th, Group Company General Manager and MCC Group President Guo Wenqing met Hong Kong Exchanges and Clearing Limited (HKEC for short) CEO Li Xiaojia. Both sides jointly discussed communication and cooperation in the financial sector.

  Guo Wenqing welcomed Li Xiaojia and his delegation and introduced the China Minmetals Corporation and MCC Group’s strategic reorganization situation. He then pointed out that China Minmetals was China’s earliest transaction company and has gradually transferred into an entity enterprise over the course of its 67 years. The MCC Group is a pioneer of China’s steel and iron industry, occupying over 60% of the global metallurgical construction market. These two Fortune Global 500 companies play important roles in the country’s economic and social development, and they successfully conducted a strategic reorganization last year. The Group is now committed to becoming the No. 1 world-class metal and mining group and the only state-owned capital investment company in the metallic mineral industry approved by SASAC. At present, the Group has total controlled assets of over RMB 1.6 trillion, with RMB 800 billion in managed financial assets, has 240,000 employees and 32 national-level sci-tech innovation platforms and key laboratories, and reached operation revenue of about RMB 440 billion in 2016.

  Guo Wenqing pointed out that the Group achieved profits in the first year after the reorganization, confirming the goal of ‘Three steps and two doubles’ at the Work Meeting this year. First, it is necessary to complete the tasks of the reorganization, transformation and transition by the end of this year and double last year’s profits. Second, it is important to be fully equipped with state-owned capital investment function, double this year’s profits and complete the process from stopping the bleeding to producing blood by the end of next year. Finally, by 2020, the Group shall be the world’s No. 1 in metallic mineral products, tungsten, antimony, indium, germanium and bismuth, and possess strong global influence and central control capacity in copper, iron, nickel, lead and zinc. With the full victory of realizing nationwide moderately prosperous society, the Group will achieve the goal of becoming the No. 1 world-class metal and mining group, and possess global ore resource allocation capacity and integrated production, supply and transaction capacity. This is our responsibility to the country, our industrial mission and the goal that our enterprises pursue. It is necessary to closely combine the three parts, embody the thought of ‘reform for the whole process’ in our work, keep our responsibilities in mind, further integrate resources, develop towards core businesses, continuously expand and extend diverse main businesses, build an internal RMB 100 billion market, promote ‘Belt and Road’ project construction, boost the implementation of logistics parks and the construction of RMB 100 million ton-level ore transaction mixing center projects, and so on.

  Guo Wenqing emphasized that the Group now has the full range of finance business licenses and 9 domestic and foreign listed companies. HKEC has always provided MCC’s listed companies with care and support, especially in overseas resource project acquisition. HKEC also possesses an open international vision, professional economic analysis capacity and deep study ability. He hopes that both sides will further discuss cooperation in forward markets, staple commodities, warehouse logistics and other fields in the future.

  Li Xiaojia gave his congratulations on the powerful reorganization of the China Minmetals Corporation and MCC Group. He then pointed out that the cooperation relationship between HKEC and the China Minmetals Corporation is mainly embodied in three aspects. First, HKEC is the listed company of the stock exchange. Both sides have conducted long-term, smooth and clear cooperation in capital operation, stock issuance and additional issuance, financing arrangements, mergers and acquisitions, and other aspects on the stock exchange platform. Second, in the international pricing and transaction of nonferrous metals and staple commodities, HKEC is transforming into a full-time exchange and carrying out the strategy of ‘buying one abroad’. It also fully owns the 140-year-old London Metal Exchange (LME) with which the China Minmetals Corporation has deep cooperation as a participant. Third, the strategy of ‘building one at home’ has been carried out through the establishment of a staple commodity transaction center in Qianhai of Shenzhen A successful staple commodity transaction platform requires powerful credibility, attracts all parties in the market to make transactions on a trustworthy and reliable platform, and has powerful strength, a deep understanding of staple commodity trading and sound risk control capacity. He thinks that the Qianhai combined transaction center constructed by HKEC has all of these advantages. He hopes that both sides will further study and discuss cooperation modes, open up financial services and substantial economy channels, jointly achieve the monetization of staple commodities and boost supply-side reform.

  The meeting was attended by Group Company Chief Accountant and China Minmetals Corporation General Manager Shen Ling, Group Company Vice-General Manager and MCC Group General Manager Zhang Zhaoxiang, HKEC Qianhai Combined Transaction Center CEO Guo Xiaoli, China Chief Economist Ba Shusong, Managing Director and Head of Mainland Business Development Mao Zhirong, Managing Director and Co-head of Market Development Division Li Gang, Chief Executive Office Manager Bao Haijie, and relevant personnel from the Headquarters departments, MCC Group, China Minmetals Corporation International, China Minmetals Corporation Development, China Minmetals Corporation Capital and China Minmetals Corporation Real Estate including Xue Fei, Xiong Xiaobing, Liu Qingchun, He Jianbo, Li Yuchao, Xing Yan, Fan Yuwen, Shi Jun and others.

       

  

  

  


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