“Zambia-China Economic, Trade and Tourism Forum” Opened in CNMC

02 Apr 2015

On March 31, 2015, the Zambia-China Economic, Trade and Tourism Forum, jointly held by CNMC and Zambian Embassy in China, opened grandly in CNMC. Over 200 guests from China and Zambia and business representatives gathered to seek cooperate.

His Excellency Zambian President Edgar Lungu attended the forum during his state visit in China, who were invited by President Xi Jinping. Earlier, President Lungu attended the 2015 Annual Conference of Boao Forum for Asia, met with President Xi Jinping, and achieved broad consensus. On the morning of March 30, President Lungu also met with leaders of CNMC such as General Manager Luo Tao at the Diaoyutai State Guesthouse, and encouraged CNMC to achieve better and faster development in Zambia. In the wild applause, President Lungu gave a warm speech. From historical and realistic perspectives, he fully explained the significance of consolidating and developing the traditional friendship between Zambia and China, expressed the gratitude to the Chinese enterprises for promoting economic and social development in Zambia. President Lungu made special emphasis on the important contribution of CNMC and its investment cooperation zone. Meanwhile, he placed high expectations on the future development of cooperation zone, and Zambian government will fully support the investment and development of CNMC in Zambia, provide strong support for the development of cooperation zones. He emphasized that his trip to China witnessed China's progress and development, and he hoped that the forum could become a bridge of friendship and cooperation between the two countries, which leads more Chinese enterprises to invest in Zambia.

Mwanakatwe, Minister of Zambia Ministry of Commerce, Trade and Industry, and Mwape, Zambian Ambassador in China, affirmed in their speeches that the forum is an important link to boost "China Dream" and "African Dream", spoke highly of CNMC’s great contribution to the economic development and social progress in Zambia. Luo Tao, Chairman of the Board of CNMCL, and general manager of CNMC, delivered a speech to thank President Lungu and all levels of Zambian government for the support and help to CNMC and Chinese companies in Zambia. And he briefly introduced the basic situation of investment and development in Zambia . He noted that since the establishment of China-Africa Cooperation Forum 15 years ago, especially since the Beijing summit, China and Zambia continue to deepen economic and trade cooperation, and the investment and cooperation of CNMC in Zambia has entered a new stage, and shown broad prospects. CNMC will live up to high expectations of successive leaders of the two countries, and make new and greater contributions for the friendship and cooperation between the two countries under the guidance of broad consensus achieved by President Xi Jinping and President Lungu. CNMC extends warm welcome for visit and investment in the zone, who will give full play to the advantages of CNMC and Cooperation Zone, and be committed to providing investors with good service. We expect mutual cooperation so as to create brilliant future.

With witness of President Lungu and guests of Zambia and China, Chinese economic and trade cooperation zone in Zambia signed cooperation agreements of intent with 11 companies, covering infrastructure construction, smelting and manufacturing, agricultural investment, new-energy investment, information technology investment and so on. Zambia Consolidated Copper Mines, an important strategic partner of CNMC, signed contracts with China Nonferrous Development and Investment Company, West China Cement Company, China XD Group Corporation for projects of cement plant, copper cables and refinery. The cooperation agreements signed in the forum involve a total investment amount of nearly $ 800 million.

During the event, President Lungu also met with Chinese investors and answered the questions of Chinese entrepreneurs. Zambia Bank, Development Agency, and Tourism Bureau made investment promotion. Zan Baosen, general manager of Zambia China Economic and Trade Cooperation Zone Development Co., Ltd., made investment preach of Zambia China Economic and Trade Cooperation Zone. The Forum also provides interactive quiz on the topics of concern and enterprise exchange, which prevails the atmosphere of "Cooperation for Common Development of Zambia and China”.

With the company of Luo Tao, Chairman of the Board of CNMCL and General Manager of CNMC, Zhang Keli, Secretary of Party Committee, President Lungu visited the exhibition hall of CNMC and conducted friendly talks. As early as 2011, he had visited the headquarters of CNMC, who is familiar with the development and investment of CNMC at home and abroad. President Lungu was happy to see the new changes and content in the exhibition hall, who praised the development speed and quality of CNMC. President Lungu felt cordial connection when watching the scene of his meeting with Chinese leaders of Xi Jinping, Li Keqiang, and Yu Zhengsheng, the pictures of inscription of “Cooperation for Common Development for Zambia and China” by former Chinese President Hu Jintao for CNMC, as well as the pictures and videos that former Zambian Presidents such as Kenneth Kaunda, Sata, Mwanawasa and other leaders cared about CNMC or visited the headquarters of CNMC. And he praised CNMC as the experiencer and facilitator for the friendly exchanges of economy and trade between Zambia and China when learning about the biological metallurgical projects of CNMC, its public-spirited career in Zambia, and its active integration into local practice. In front of cooperation business sandbox, President Lungu kept smiling when listening to the report and fully affirmed the latest progress of cooperation zone. At the end of the visit, the President Lungu was delighted to make inscriptions to thank CNMC for the important contributio to promoting economic and social development of Zambia.

The leaders that attended the day's activities include Kalaba, Minister of Zambian Foreign Ministry, Chikwanda, Minister of Zambian Finance Ministry, Mukange, Minister of Transport, Works, Supply and Communications, Yaluma, Minister of Mines, Energy and Water Ministry, Lubinda, Minister of Agriculture and Livestock Ministry; Yang Youming, Chinese Ambassador in Zambia, Jiang Nan, Chairman of Smelting Machine and Building Materials Trade Union under All-China Federation of Trade Unions, Jia Like, deputy director of SASAC Planning Bureau, Cao Jiachang, deputy director of West Africa Division of Ministry of Commerce, Ding Xuequan, vice president of China Nonferrous Metals Industry Association, as well as up to 20 media from Zambia and China. The forum was hosted by Zhang Keli, the Secretary of Party Committee of CNMC.

As a large central enterprise under the management of SASAC, CNMC ranks 398^th among the 2014 "World Top 500". CNMC is one of the earliest and most successful "going out" companies in China Nonferrous Metals Industry, with operations in more than 80 countries and regions, and 79 foreign enterprises of all levels. Relying on the advantage of "going out", CNMC has gained rising overall strength and business impact in recent years, and the revenue 2014 has reached to 202.1 billion yuan. Compared with those in early stage of "Eleventh Five-Year", the total assets, operating income, non-ferrous metal products output of CNMC has increased by 17 times, 41 times and 33 times, which demonstrating sound growth potential.

Zambia is one of most important investment and developmen regions for CNMC. At present, CNMC has invested more than 2.6 billion US dollars in Zambia, with 14 funded enterprises, providing 14,000 local jobs, provide a variety of contributions of over $ 20 million, which is known as the "Best Interpreter for All-weather Friendship between Zambia and China." The Chambishi copper mine and Chambishi copper smelter, invested by CNMC is the largest overseas non-ferrous mining and copper smelters of China; The Economic and Trade Cooperation Zone of Zambia and China, invested by CNMC, is the first of economic and trade cooperation zone established by China in Africa and the first multi-purpose economic zone in Zambia. It creates a new model of cluster"going out" of Chinese enterprises , which has attracted $ 1.4 billion investment, and has 48 enterprises settled with a total sales revenue of 8 billion USD.

Taking root in Zambia 17 years ago, CNMC has gained great support from the two governments, and has developed into the largest Chinese-funded enterprises in Zambia. On February 4, 2007, Then President Hu Jintao of PRC and ThenPresident Levy Mwanawasa of Zambia opened and made inscription for Economic and Trade Cooperation Zone of Zambia and Chambishi Copper Mine Smelting Company. On November 6, 2004, Wu Bangguo, then Chairman of NPC laied foundation and made inscription for Chambishi Hydrometallurgy Company, invested by CNMC. His ExcellencyPresident Lungu had visited CNMC headquarters in 2011, and appointed Wina, Vice President of Zambia soon after his presidency to the zone for study and guidance. On June 29, 2012, the CNMCL, funded by four Zambian enterprises, landed in Hong Kong capital markets as the first company of Africa Concepts listed in Hong Kong stocks. The Then President Sata of Zambia issued a statement indicating that Zambia will strongly support the the development of CNMC, and gathered momentum for the development of CNMC in Zambia.

BY the office department of CNMC