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Xiao Yaqing Meets with Jeremy Weir, CEO of Trafigura

February 17, 2017, SASAC Chairman Xiao Yaqing met with Jeremy Weir, CEO of Trafigura.

Xiao Yaqing exchanged views with Jeremy Weir on global economy, commodity prices, as well as the energy and mineral market of China. He said that there will be great market potential for the demand of energy and minerals in China’s industrialization and modernization process, and SASAC will encourage the central SOEs to strengthen their cooperation in trade and investment with Trafigura, establish long term strategic partnership, and develop the global market together.

Jeremy Weir briefed on Trafigura’s global business especially the business in China, and its joint projects with the central SOEs. Protectionism, he said, has reduced efficiency, and Trafigura would like to work with international traders and Chinese large enterprises to call for globalization. He emphasized that Trafigura attaches great importance to Chinese market, and would like to deepen its cooperation with Chinese central SOEs in key areas and important links of the “Belt and Road” Initiative in the process of which the two sides will complement each other for mutual benefits, and seek long term solutions.

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