On Nov. 23, 2017, Ms. Shen Ying, Chief Accountant of SASAC, met with Rio Tinto CEO Jean-Sebastien Jacques at the Diaoyutai State Guesthouse.
Shen Ying said that the 19th CPC National Congress, which was successfully held not long ago, concluded that socialism with Chinese characteristics has now entered a new era, and drew a magnificent blueprint for China to secure a decisive victory in building a moderately prosperous society in all respects and to embark on a journey to fully build a modern socialist China, bringing new opportunities to global economy.
On behalf of SASAC, Shen Ying extended congratulations on Rio Tinto and Sinosteel Corporation's confirming of the agreement on the third extension to Channar Mining Joint Venture. She pointed out that as China’s first large overseas mining investment project, Channar Mining Joint Venture has been successfully operated for 30 years, achieved mutual beneficial and win-win outcome, built sincere partnership, and accumulated rich management experience. It deserves serious review and summary. SASAC encourages central SOEs to "go global", carry out international cooperation and play a leading role in the "Belt and Road" construction. SASAC hopes that Rio Tinto and Sinosteel can inherit and well develop the Channar brand, seize new market opportunities, expand new cooperative areas, and make new achievements on win-win development.
J-S Jacques appreciated SASAC's support to the cooperation between Rio Tinto and central SOEs, Sinosteel in particular. He said Rio Tinto will adhere to the principles of mutual respect, mutual benefit, win-win result, flexibility and high efficiency. He also said that Rio Tinto will work together with Sinosteel to operate Channar Mining Joint Venture well, and to actively explore cooperation in the fields of R&D and training.