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The products and materials operated by China Minmetals Corporation involve all aspects of the national economy and the people's livelihood. They are widely used in many fields of national economic construction and have made outstanding contributions to the development of the national economy and modernization. From the date of its establishment, until 1978, as the main channel for the import and export trade in the national hardware and minerals industry, the company played an important role in breaking the blockade of Western capitalist powers, ensuring the urgent need for material imports by the state, and serving the national economic revitalization. The role. At that time, the company’s annual import and export volume accounted for nearly a quarter of the country’s total import and export volume.
After the reform and opening up, China Minmetals adapts to market changes, gives full play to its advantages, overcomes various challenges, and strives to explore new development paths, so that enterprises can revitalize their vitality.
In the business direction, the company has been advancing with the changes of the external environment and strategic transformation. Since the 1990s, with the establishment and improvement of the socialist market economy, the monopoly advantage of China Minmetals as a traditional foreign trade enterprise has gradually disappeared. Faced with severe objective challenges, China Minmetals' management began to explore new directions for the company. Since 1999, China Minmetals has established a development strategy committee and spent more than two years to develop a complete development strategy system for the group. At the beginning of 2005, according to the changes in internal and external forms, China Minmetals adjusted its development strategy to: “Based on trade, diversified and diversified, fully developed marketing network, customer-centered, relying on resources, and actively providing value-added services to China’s five The mine has become a metal and mining enterprise group that provides global quality services." At present, China Minmetals has developed into an integrated resource-based enterprise with equal emphasis on both domestic and foreign trade, production and circulation, and has formed a coordinated development pattern of five major industries: ferrous metals, non-ferrous metals, finance, real estate and logistics.
In business practice, China Minmetals is guided by the new strategy, adheres to scientific development, deepens strategic transformation, builds an internationally competitive metal mining group as a development goal, extends to the upstream and downstream of the industrial chain, and strengthens resource control capabilities and Safeguard capabilities and improve sustainability. China Minmetals has transformed its growth mode through business innovation and strengthened its main business to lay a solid foundation for promoting the strategic transformation of China; China Minmetals has effectively integrated domestically advantageous metal mineral resources and improved the international competitiveness of Chinese goods; China Minmetals actively implements the country. Going out of the strategy and participating in the development of internationally important metal mineral resources, China Minmetals has effectively leveraged capital to promote the effective integration of industry and capital. During the “10th Five-Year Plan†period, the average annual growth rate of the group company was 33.5%, the business volume increased by 3.8 times, and the profit increased by 6.3 times. This is the unprecedented growth rate of the company more than 50 years ago.
In terms of enterprise management, China Minmetals has strengthened the corporate management and control mechanism and enhanced its management and resilience. China Minmetals actively improved the corporate governance structure, and made major decisions through special committees; China Minmetals established a long-term mechanism for risk management to effectively prevent operational risks; China Minmetals implemented centralized financial management and improved monitoring of capital operations; China Minmetals deepened The reform of the personnel system has continuously improved the incentive and restraint mechanism; China Minmetals has upgraded its information management level and actively promoted ERP construction, providing strong technical support for building a group company management and control system.
In terms of social responsibility, China Minmetals, while cultivating a proactive, pioneering and innovative corporate culture and enhancing corporate cohesion, does not forget to fulfill its social responsibilities, actively participates in national poverty alleviation work, is enthusiastic about social welfare undertakings, and actively pursues projects and fights against snow and ice. Disasters, environmental protection, bidding for the Olympics and bidding for the World Expo will provide donations and useful sponsorship activities. From 2005 to 2007, the company donated more than 10 million yuan to several provinces in the south affected by natural disasters. The headquarters of the group company donated 5.481 million yuan to the counterparts. In 2008, it donated 3 million yuan to the southern ice and snow disaster area, donated 40 million yuan to the earthquake-stricken area, and donated 1 million yuan to the Paralympic Games. In 2007, the company was awarded the title of “National Most Responsible Enterpriseâ€.
After 30 years of reform and opening up, through its own market-oriented and nurturing core competitiveness, China Minmetals has undergone three transformations, from traditional state-owned enterprises with strong plans in the past to independent operations under market economy conditions. A modern enterprise with strong competitiveness; from a simple import and export trading company in the past to a multinational company based on trade, relying on resources and integrating upstream and downstream; from a company that is solely engaged in product management to a combination of industry and finance. Asset management group.
As a fast-changing resource-based enterprise, China Minmetals has made great progress in acquiring key resources. At present, the company has a reserve of 700 million tons of iron ore, 450,000 tons of tungsten, 800,000 tons of lead and zinc, 300 million tons of coking coal, 10 million tons of copper, 150 million tons of aluminum-vanadium, and 6 million tons of iron ore. Annual production capacity of 3 million tons of crude steel, 2 million tons of steel, 900,000 tons of alumina and 50,000 tons of copper. In terms of resource supply, China Minmetals has an annual supply of 20 million tons of steel, 2 million tons of coke, 5 million tons of coal, 150,000 tons of copper and more than 1 million tons of alumina. China Minmetals currently has a global marketing network with 45 overseas companies in major countries and regions around the world. The global metal purchase and sales capacity exceeds 40 million tons, and overseas mining investment totals more than 1 billion US dollars. It has built a global resource supply security system and Marketing network service system.
In the future, China Minmetals is committed to building a multinational metal mining enterprise group with perfect functions and international competitiveness, becoming a leading mineral resource developer, leading metal producer and industrial integrated service provider; striving to achieve sales revenue of 200 billion by 2010. Yuan Renminbi, with a profit of 8 billion yuan, will build a new Minmetals and lay a solid foundation for becoming a leading international metal mining enterprise group.
Founded in 1950, China Minmetals Corporation (hereinafter referred to as “China Minmetalsâ€) is mainly engaged in the development, production, trade and comprehensive services of metals and mineral products, and concurrently engages in finance, real estate and logistics businesses for globalization. An important state-owned enterprise operating. In 1992, China Minmetals Corporation was identified by the State Council as one of the first batch of 55 enterprise group pilots and one of seven state-owned asset authorized business units. In 1999, China Minmetals Corporation was included in 44 state-owned key enterprises managed by the central government. In 2007, China Minmetals' sales revenue increased 16% from 2006 to reach US$21.8 billion; profits doubled from 2006 to reach RMB7 billion. In the first three quarters of 2008, China Minmetals realized a total operating income of 148.5 billion yuan, a net increase of 42.48 billion yuan, an increase of 40.1%; the total realized profit was 6.322 billion yuan, a net increase of 2.37 billion yuan, an increase of 59.8%. In the SASAC's assessment of the first term performance of the central enterprises, China Minmetals obtained double A: one in the year of 2006 and the other three years from 04 to 2006. In the 2007 annual corporate performance appraisal, it was once again rated as an A-class enterprise, ranking up to the 20th place, and becoming one of the top 10 central enterprises with rapid economic value added. In 2007, the company entered the Fortune Global 500 rankings, and in 2008 it jumped to 412.