CHINA MINMETALS - Beijing

China Minmetals Group is one of China's first 57 conglomerates that have been granted top priority in the central government's strategic development program. Centered on China National Metals and Minerals Import & Export Corporation, it is a giant multi-business enterprise group focusing on international trade. Its total assets by the end of 1997 amounted to RMB 20.234 billion yuan. With its gross turnover totaling US$4.458 billion and the total volume of imports & exports by its domestic subsidiaries reaching US$2.556 billion in 1997, it continues to rank at the top of China's 500 biggest foreign trade enterprises.Established in 1950, China national Metals & Minerals Imp. & Exp. Corp. has long been specialized in the import & export of such commodities as iron and steel, nonferrous  

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metals, non-metallic construction materials and minerals. The accumulated volume of import & export over the past 48 years has totaled US$120 billion. With extensive marketing networks and rich experience accumulated over the years in international trade, it enjoys great prestige both at home and abroad.The conglomeration of China National Metals & Minerals Imp. & Exp. Corp. was initiated back in the early 1980's. Propelled by the nation's restructuring of its economy and foreign trade system, and in line with the establishment and development of the socialist market economy ,the corporation broke away from the traditional mode of operation and aimed at creating a first-class transnational conglomerate. It has since adopted the development strategy of internationalization, industrialization as well as business diversification centered on international trade. As an equal and independent competitor on the market solely responsible for its own profit and loss, it has accomplished the shift from implementing state import & export plans to competing actively and equally on the market as a new foreign trade conglomerate. At present, all the subsidiaries of China Minmetals Group are engaged in specialized operation in terms of business sector and commodity. With international trade as the leading line of business., it is also devoted to developing such pillar businesses as finance, transportation, property development and management, industrial production, as well as engineering contracting and labor service. This has resulted in a well-structured corporate operational framework in which various business lines increase their profits by creating synergies among themselves and spread up their risks through diversification.Committed to boosting economic growth and promoting social progress, China Minmetals Group has made unstinted effort to turn itself into a top world-class translational conglomerate.