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On 4 February, the 2010 annual work conference of China Minmetals was grandly held in Beijing. President Zhou Zhongshu gave the work report titled "Consolidate the foundation; Innovate for development; Speed up the process to be a metal and mineral group with international competence". The State Council appointed Yang Jian, chairman of board of supervisors to Minmetals to attend the conference, together with Yang Xiaojing, deputy director-general supervisor from No.1 Division of the CPC Central Committee of Discipline Inspection, Shi Jun, deputy director-general of No.5 Cadre Division of the Organization Department of CPC Central Committee, Li Wei, deputy director-general of No.1 Enterprise Cadre Division of SASAC, and Li Yuping, deputy director of No.20 Division of the Supervising Committee of Key Large SOEs. Senior Vice President Xu Siwei, CFO Shen Ling and Senior Vice President Li Fuli of China Minmetals made specialized reports on three topics respectively, namely three-year development plan and strategic layout of the Corporation, restructuring of state-owned assets, as well as domestic and overseas M&A of non-ferrous metal business. The senior and middle level management of the Corporation both from home and abroad attended the conference.
In 2009, China Minmetals thoroughly implemented the scientific outlook of development and effectively tackled the global financial crisis. As the overall production and operation recovered, China Minmetals achieved annual business revenue of USD 26.8 billion and turnover of RMB 173 billion, meeting all tasks assigned by SASAC. Besides, Minmetals made great breakthroughs in M&A and restructuring. It has successively restructured Changsha Research Institute of Mining and Metallurgy, Luzhong Metallurgy & Mining Group Corporation and Hunan Nonferrous Metals Corporation Limited, and also successfully acquired the main assets of the Australian OZ Minerals. Meanwhile, it has also made considerable headway in adjusting and optimizing the industrial structure and improving management capacity. In the annual work report, President Zhou put forth the work approaches for 2010 - thoroughly implement and practice scientific outlook on development, follow the essence of the CPC economic work conference and central enterprise leaders conference, emphasize the transformation of development model and enhance value creation; accelerate the operation tempo and avoid market risks; promote overall institutional restructuring and pursue independent innovation; optimize the structural layout and intensify restructuring and integration; complete all production and operation tasks and speed up to build a metal & mineral group with international competence.
Zhao Shitang, deputy director-general of SASAC General Bureau, gave a lecture on EVA assessment at the conference. |
