From February 18 to 19, China Baowu held a seminar on overseas development in 2019. The meeting emphasized that in accordance with the development direction and objectives of China Baowu international business, we should tap the potential, strengthen coordination, and strive to enhance the international investment and operation capacity of China Baowu, promote the construction of overseas manufacturing bases, and open a new chapter in China Baowu international development. Chen Derong, secretary and chairman of China Baowu Party Committee, made an important speech. Hu Wangming, general manager and deputy secretary of the Party Committee, presided over the meeting.

At the meeting, Baosteel exchanged ideas on internationalization of Baosteel, regional investment opportunities and project tracking with Baosteel Europe, Baosteel America, Howa Trading and Baosteel Singapore respectively. Baosteel Metal and Baosteel Resources introduced their experiences, explorations and reflections on overseas investment and operation. The meeting also invited China Baowu strategic partner, CIMC, to share its experience in global development.

Chen Derong made a brief comment on the highlights of the internationalization work of the Group's steel plate and multi-plate in the past year. In 2018, although great achievements have been made in the internationalization of Baowu, compared with its position and vision, it is far from enough. The first Party Congress of China Baowu made clear that the group's vision was “To become a global leader in iron and steel industry". The theme of this overseas working conference focused on "Enhancing international investment and operation capacity, promoting the construction of overseas manufacturing bases", which is an important measure to implement the spirit of the first Party Congress of China Baowu. As one of the first pilot enterprises of state-owned capital investment company, Baowu China will focus on the construction of overseas steel base in the whole process of international investment as a key task of the group in the future.

Chen Derong pointed out that internationalization is the only way for the development of China Baowu. Without internationalization, there will be no future for China Baowu. Domestic iron and steel industry has entered a long-term de-capacity stage, and competition will certainly enter a white-hot stage, although we have adjusted the industrial layout in China, it is not enough for us to get better benefits, if we just stick to the domestic market, we will be waiting to die; Trade protectionism in developed countries is long-term, relying on the traditional trade methods in the past, we have no way out, only through internationalization can we break the trade barriers; "One Belt One Road" contains tremendous opportunities for development, many of our partners have been internationalized, if we are stuck at home, we will lose partners, without partners, we will not go far. The so-called "If you tant to go fast, you have to go alone; If you want to go far, you have to go by a group of people". The common internationalization with our partners is a very important path for China Baowu to achieve global competitiveness in the future. Chen Derong believes that internationalization is our short board. Although we started very early and made some achievements, but overall our internationalization still mainly stays at the resource side and the marketing side, compared with our counterparts at home and abroad, the gap is obvious.

Chen Derong stressed that China Baowu should unswervingly promote its internationalization strategy. In the report of the Nineteenth Congress of the Communist Party of China, General Secretary Xi Jinping proposed to build a world-class enterprise with global competitiveness, the SASASAC of the State Council asked the central enterprises to set up a world-class demonstration enterprise. The vision of China Baowu “To become a leader in the global steel industry” requires us to unswervingly promote the internationalization strategy. According to the laws of economics, only in the free flow of resources can we maximize the allocation efficiency. Only through the free flow and allocation of resources in the global scope can Baowu achieve the maximum benefit. As a central enterprise, building overseas production bases and forming international production layout are not only the responsibility of "Becoming a global steel industry leader" industry to serve the country, but also the consideration of optimizing resource allocation and maximizing enterprise interests, and also the responsibility of national strategy. Chin Baowu should have such ambition and who else but me. But opportunities always favor those who are prepared and pie never falls from the sky. Only through arduous efforts to open up frontiers and open up territory can we achieve our goals. Chen Derong calls for the improvement of the internationalization promotion system: planning and strategy should be further clarified; organizational system should be further improved; opening up should be strengthened to cooperate with partners; resource security should be improved; talent team construction should be accelerated; risk prevention mechanism should be improved; the leadership of the Party for internationalization should be strengthened; and the party organization building of overseas companies should be strengthened.

 At the conclusion of the meeting, Hu Wangming put forward five opinions on the basis of combing the spirit of Secretary Chen Derong and Chairman's speech and the focus of international operation in 2019: in the next few years, the focus of the group's international operation is to break through the internationalization of iron and steel manufacturing investment, to lay out overseas iron and steel production bases, and all units of the group should work together and advance in coordination. We should take improving the quality of assets as the core, strengthen the existing overseas management system, and implement two transformations of international operation, namely, the transformation of the main iron and steel industry from "Export" to "Export + overseas production"; and the transformation of the business field from "Steel-based" to "Steel-based + multiple simultaneously". We will further clarify and improve the responsibilities and workflow of various departments, industrial companies and overseas companies at the headquarters of the Group to promote internationalization, and optimize the international management and control system of the Group. International business planning shall be worked out in accordance with the requirements of SASAC of the State Council. Implementing the requirements of the First Party Congress in China Baowu, and improving the system and function of grass-roots Party organizations in overseas companies.

During the seminar, special meetings on Baosteel marketing, overseas business and investment opportunities, overseas investment mode and experience sharing of service industry, overseas propaganda "Six One" work communication meeting, special meeting on overseas work promotion mechanism and information platform construction were also held, the participants fully exchanged and discussed the relevant topics.

Relevant leader of the group company, responsible person for business center and related departments of headquarters, relevant subsidiaries of Baosteel, WISCO Group, Baosteel Engineering, Ouyeel cloud business, and responsible person of overseas company attended the seminar with more than 150 participants

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