May 16th, HBIS and Minmetals signed the Belt & Road Globally Strategic Framework Cooperation Agreement. Implementing the Belt & Road Initiative and deepening their coordinated development in the globe, HBIS and Minmetals will jointly develop their comprehensive strategic partnership and cultivate their world leading enterprises. They will explore new business models and assist the overseas projects. HBIS CCP & Group Chairman Yu Yong, Minmetals Chairman and CCP Deputy Chairman Tang Fuping attended the ceremony.
Before the signature, the executives of the parties met and Yu Yong said, over the years, HBIS and Minmetals have established a high level cooperation. The two companies are getting closer and having similar goals. The frequent interactions lead the Belt & Road Globally Strategic Framework Cooperation Agreement today, which is future oriented and a wider vision and will allow them to explore opportunities in more fields.
Yu Yong said, it had been sometime that HBIS had been implementing its international capacity cooperation and a globalized industrial chain efforts. In parallel will the national strategy, we could sense that Going Abroad and the Belt & Road Initiative, the national strategies, are bringing tremendous development opportunities to us. We hope that the parties could start from this Agreement and mutually complement each other, share their resources and strengthen their comprehensive and cross field cooperation to make our own contributions by implementing nation strategies and upgrading our industries.
Tang Fuping said that the globalized the development of HBIS had been extraordinary and successful. China Minmetals has its own advantages in metallurgic design and constructions. We believe that our cooperation will lead to a stronger industrial chain and play an even stronger role in the international capacity development of Chinese steel industry. Minmetals expects to deepen its cooperation with HBIS in Belt & Road projects and market efforts. They will coordinate their efforts and explore new business models. Hand-in-hand, the companies will open up more market and making a better future.
According to the agreement, base on the existing cooperation, the parities will benefit from their experiences in steel production, overseas sales network and project construction and pursue to upgrade the industry and international development. To take their own advantages, the partners will seek more development opportunities overseas together to find materials and strengthen the development of resource projects. They will contribute their overseas sales networks and comprehensive service capabilities to pursue a globalized trade cooperation. Over the Belt & Road Initiative, the parties will form capital joint ventures. They will also learn the experiences of each party in their internationalized business operation and management and promote their own internationalized efforts.