On the morning of April 13, Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, hosted another special emergency conference on China Minmetals' pandemic containment and production abroad, against the severe prevention and control situation faced by subsidiaries outside of China.

Ren Zhufeng, Vice President and Party Group Member and also Deputy Officer of the COVID-19 pandemic Prevention and Control Leading Group of China Minmetals, firstly reported the overall situation of China Minmetals' overseas pandemic containment, and the preventive measures for the corona virus and production of overseas subsidiaries and projects of MCC, Minmetals International (HK) and Minmetals Development Co., Ltd., were briefed in the conference. Guo also made video connections with the heads of overseas subsidiaries in Singapore and the United States.

It's pointed out in the conference that the guiding principles given in General Secretary Xi Jinping's important speeches, as well as in the recent meetings of the CPC Politburo Standing Committee, should be carried out to deal with the complex and severe situation. The bottom-line thinking must be established with a long-term thought and work preparation to meet the challenges from the external environment. The anti-virus measures in curbing both imported cases and domestic cases mustn't be slacked off. We must insist on accelerating the full restoration of the order in the normalized pandemic containment. Due to the high-degree internationalization, the large-number overseas subsidiaries and projects, and the large-scale assets under management, China Minmetals is facing very difficult challenges against the pandemic. Therefore, we must further push the work of pandemic containment and production, especially those subsidiaries outside of China. Difficulties should be estimated more fully to analyze the problems more accurately, and implement the measures more specifically.

For the pandemic containment work and production and of overseas enterprises, Guo Wenqing put forward the following five requirements.

Firstly, the safety and health of the employees should always be given top priority. At different stages of the outbreak, General Secretary Xi Jinping directed us at each important stage with accurate judgment and timely deployment. All enterprises must earnestly implement the deployment of the CPC Central Committee, accurately understand the profound connotation of scientific prevention and control, orderly production and overall economic and social development, and carry out production and operation work in an orderly manner on the premise of prevention and control of pandemic situation. The entire group, especially overseas companies, must resolutely prioritize the safety and health of our employees, responding calmly and actively. No laziness and slackness can be allowed during the pandemic containment.

Secondly, the management and stability of overseas employees should be strengthened. Overseas enterprises should strictly implement the local pandemic containment policies and the relevant requirements of China Minmetals, strictly implement the approval procedures, strictly manage the personnel going abroad and returning, and strictly control the rotation of employees. The personal safety reminders of overseas employees should be timely, regardless of whether they are domestically stationed personnel or overseas employees, equal attention should be given with all-day health monitoring. On the basis of fully guaranteeing the needs of overseas enterprises, especially the ones situated in pandemic hard-hit areas, we must further donate protective materials, maintain good relations with local governments, partners and social groups, highlighting good image of our China Minmetals.

Thirdly, the special monitoring measures for financial risks should be firmly implemented. Various financial and capital risks must be strictly controlled with special supervision measures implemented during the current special period. All enterprises should optimize and adjust the production and sales, and apply no-loss bottom line to reverse the cost reduction plan. Strict measures must be carried out to control our self-employed exposure, prevent the occupation of external customers' inventories and receivables, and no risk items should be added for such reason as the impact of the pandemic. In addition, new investment should be strictly controlled, liquidity risk should be highly concerned, the scale and channel of credit financing should be stabilized, and the position reserve should be increased appropriately. For loans to major overseas projects, it is necessary to study and promote the implementation of adjustment and optimization programs in advance to effectively prevent credit risks.

Fourthly, the basic production and operation of overseas enterprises should be scientifically and reasonably stabilized with cost-saving as the means and reducing losses and increasing efficiency as the goal. Faced with the severe impact of the pandemic on production and operation, all overseas companies must systematically analyze to accurately grasp the reasonable size of the company's business and personnel, thereby saving expenses, reducing costs, and reducing losses. Meanwhile, overseas enterprises should also strengthen our understanding and mastery of the basic situation of our own production and operation, strictly save all kinds of expenditures, reduce all types of costs, and achieve the goals of reducing losses and increasing benefits, so as to scientifically and reasonably stabilize our production and operation.

Fifthly, work must be carried out in a professional and meticulous manner to ensure the stable and normal operation of the company. Each headquarter department, each directly-managed enterprise, and each overseas subsidiary must firmly and effectively fulfill their responsibilities. The loopholes and shortcomings in our duties must be filled in time to safeguard our own fields and responsibilities. Based on our own practical experience, all of us should take our own responsibility to ensure the stable and normal operation of the enterprise by thinking about the work in more detail, and implementing measures in a more solid manner.

The leaders of China Minmetals including Liu Caiming, Zhang Zhaoxiang, and Jiao Jian attended the conference together with heads of relevant headquarter departments and all directly-managed enterprises of China Minmetals.

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