They have an in-depth discussion on cooperation in bond issuing, asset securitization, asset management, infrastructure construction, theme park development, overseas mergers and acquisitions, overseas development and so on, and reach an agreement

On the afternoon of August 24th, MCC Chairman and Party Secretary Guo Wenqing met with President of CITICS Wang Dongming in Beijing. They held an in-depth discussion on cooperation in bond issuing, asset securitization, asset management, infrastructure construction, theme park development, overseas mergers and acquisitions, overseas development and so on, and reached an agreement.
Guo Wenqing first welcomed President Wang Dongming et al. to MCC and briefly introduced the current MCC strategy of creating the best National Team in metallurgy construction and operation services, pointing out that MCC, as the pioneer and main force of the Chinese iron and steel industry, contracts more than 90% of iron and steel projects in the domestic market, and more than 60% of the international markets with the goal of increasing that figure to 80%. To further carry out the requirements of the Central Government and the State Council for the development of central enterprises, MCC has put forward its strategic National Team target and conducted top-layer plans and designs to ensure that the core technologies of MCC in respect of the eight parts and 19 units of steel metallurgy can reach the first-rate level in the world. MCC is struggling to become a 'booster' leading China forward from a great steel power to a stronger steel power, a 'guardian' of 'the dream of great steel power' and a 'leader' of international steel capacity and equipment manufacturing cooperation. To this end, MCC is undertaking the state responsibility of leading Chinese metallurgy to a higher level of development. At present, MCC has 13 scientific research and design companies with 11 national sci-tech innovation platforms and its accumulative number of granted patents ranks fourth among all the central enterprises; in addition, 16 MCC subsidiaries possess 23 special grade qualifications as general contractor, of which ten have double special grade qualifications in both housing construction and smelting, putting MCC first among all companies with national double special grade qualifications. MCC constructed the 33 km state-of-the-art comprehensive underground pipe network in Hengqin Island, Zhuhai, which is regarded by the Department of Housing Construction as a typical model to be promoted nationwide; MCC has also participated in the preparation of the National Standard for Comprehensive Pipe Networks and established the first professional pipe network investment and construction company in China; it has also successfully set foot in the sewage treatment, garbage incineration power generation, environmental engineering and new energy areas. MCC possesses the sole domestic theme park professional design institute, which has successfully constructed and developed various large-scale theme park projects represented by Sentosa Universal Studios in Singapore.
Guo Wenqing stressed that MCC and CITICS have a good cooperation foundation as well as a deep bond. Since MCC's A share was listed, the two companies have kept a particularly close long-term cooperative relationship. As the sponsor and compliance adviser of the listed A share of MCC as well as the principal underwriter of MCC's MTN and enterprise bond, CITICS has made great contributions to the sound and steady development of the Group. It is hoped that the two parties will further strengthen their communication and exchange and, based on present cooperation projects, further expand their cooperation in bond issuing, asset securitization, asset management, infrastructure construction, theme park development, overseas mergers and acquisitions, overseas development and more, complementing each other's advantages for win-win results and mutual development.
Wang Dongming expressed his thanks for Chairman Guo Wenqing's warm reception and briefly introduced the current basic situation of CITICS, pointing out that CITICS was established in 1995, listed on the Shanghai Stock Exchange in 2003 and listed on the Hong Kong Stock Exchange in 2011. Its main business includes securities brokerage, securities investment consultation, financial consultation, the underwriting and recommendation of securities, securities dealing, security asset management, margin transactions, consignment sales of security investment funds, financial products, stock options and so on. In 2014, the underwriting amount of CITICS reached 95.9 billion Yuan and its bond underwriting amount reached 334.8 billion Yuan, ranking first in the same industry and making it the largest security company in China. Wang Dongming hopes that MCC and CITICS will cultivate a deeper and closer cooperative relationship with each other; strengthen their cooperation in asset management, asset securitization bond issues and other areas, and actively connect to and lay out national infrastructure construction along the route of 'One Belt And One Road' in order to make greater new contributions to the 'One Belt And One Road' strategy together.
The meeting was attended by Member of the CPC Committee and Managing Director of CITICS Liu Wenbing, Investment Banking Managing Director Gao Yuxiang, Asset Management Business Managing Director Wang Jinhai, Investment Banking Executive General Manager Jia Xiaoliang, Deputy Director of Boarders Agency Liang Jun, Investment Banking SVP Qu Yaohui, MCC General Manager, President and Deputy Secretary of the CPC Committee Zhang Zhaoxiang, MCC Vice President and Board Secretary Xiao Xuewen, Chief Accountant Zou Hongying, Board Office Director Shao Bo, Financial Department Minister Fan Wanzhu, Treasury Department Minister Li Yuzhuo and General Manager of MCC Financial Leasing Limited Company Wang Hongbo.


Chairman Guo Wenqing has a cordial talk with CITICS President Wang Dongming..


Meeting venue


Chairman Guo Wenqing with CITICS President Wang Dongming


The leaders of both parties


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