On February 15, Tang Fuping, President of China Minmetals, met with Mr. Werner Steinmüller, member of the Management Board, and the CEO of Asia Pacific of Deutsche Bank, and his delegation. The two parties exchanged views on deepening cooperation and other issues of common concern.
Tang Fuping extended warm welcome to Mr. Steinmüller and the delegation, and thanked Deutsche Bank for its support for China Minmetals on providing consultancy in investment, mergers and acquisitions, issuing offshore bonds, international credit ratings, and granting credit to the trade from enterprises outside of China. In addition, he also introduced the development of China Minmetals over the past five years. He mentioned that China Minmetals is devoted to become a world-class group in metals and mineral products. Since its strategic restructuring with the Metallurgical Corporation of China Ltd. (MCC Group) in 2015, China Minmetals keeps expanding. In 2018, the revenue of China Minmetals reached RMB 500 billion, ranking the 109th in the Fortune Global 500. He emphasized that China Minmetals is building a "four beams and eight columns" business system oriented to metal mining, metallurgical construction, trade logistics and financial real estate. As for metal mining, China Minmetals has abundant base metals including copper, plumbum, and zinc, and the world's largest volume of tungsten, antimony, and bismuth. It has been vigorously expanding the overseas market, and has been successfully transformed from a trading enterprise, to a real enterprise with diversified business.
Tang pointed out that, after the restructuring, the performance of China Minmetals has been improving, with lower asset-liability ratio, higher profit ratio of sales, and continuously increasing assets efficiency. In the future, China Minmetals will continue to act on Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and put the guiding principles set forth at the 19th Congress into practice, vigorously comply with the requirements for development at high quality, and enhance competitiveness by improving ourselves. He emphasized that China is now at the crucial stage of strategic transformation of national economy. Although the economic operation is generally stable, there are some changes and concerns. Despite some downward pressure in a short turn, the general outlook is promising. China Minmetals will make proactive response, and do our own jobs well in a down-to-earth manner. Supported by the professional operation of Deutsche Bank, China Minmetals can seek opportunities of conversion period by purchasing assets and equities, to create mutual benefits.
Werner Steinmüller said that, China Minmetals is one of the most important partners of Deutsche Bank, and the partnership between the two has been long and good, all thanks to the profound friendship between China and Germany, and the mutual trust and support between the top of China Minmetals and Deutsche Bank. Deutsche Bank will provide China Minmetals with all-dimensional services including investment bank business, commercial bank business, and wealth management, by mobilizing all resources around the globe, and will fully support China Minmetals in its globalization strategies. He hoped the two parties can further enhance communication, and seek more opportunities for cooperation.
During the meeting, the two parties also exchanged their views on other topics of common concern, including the changes in global trading system, China-US trade talks, and Brexit.
Liu Caiming, Vice General Manager of China Minmetals, participated in the meeting. Other attendees include relevant owners from Deutsche Bank – Wu Qiong, Xu Yang, and Wang Hansen, as well as owners from the departments of China Minmetals' headquarters – Zhang Shuqiang and Li Yuchao.
Scene of the meeting
Tang Fuping is making an important speech.
Werner Steinmüller is making an important speech.