Xu Siwei Attended BRICS Business Forum and Surveyed the Subsidiary Enterprises in South Africa

A few days ago, the 10th BRICS Leader’s Meeting was held in Johannesburg, South Africa, and President Xi Jinping was invited to attend BRICS Business Forum. While in South Africa, President and Secretary of the Party Committee of Sinosteel Group, Xu Siwei, as an invited representative of Chinese entrepreneurs, attended the Business Forum, and went to the subsidiary enterprises in South Africa to survey and guides the work before attending the forum.

On July 23, after Xu Siwei and his delegation arrived in Johannesburg, they went to Sinosteel South Africa Building to listen to the work reports of Sinosteel South Africa Company, Sinosteel Samancor and Sinosteel International South Africa, and they learnt about the conditions of Sinosteel in South Africa, such as the current situation of resource development business, promotion and implementation of corporate key and difficult problems and assets management. Xu Siwei affirmed the positive efforts made by the subsidiary enterprises of Sinosteel in South Africa to solve the development problems and ensure the smooth and steady operation, and required the subsidiary enterprises in South Africa to continue to give full play to their roles, complete the strategic mission of investment and operation of Sinosteel Group in South Africa, strive to expand the market and prevent the operation risks, and contribute to the continuous and steady development of the Group while maintaining the safety of the state-owned assets.

Later, Xu Siwei met with President of ABSA Wendy Lugas-Bull and his delegation. Xu Siwei introduced the conditions of mineral resources, engineering projects and joint venture companies of Sinosteel in Africa, and Wendy Lugas-Bull introduced the effect of ABSA in further improving the diversified business structure and complete financial licenses, and both the parties expressed that they would be willing to continue to explore and foster the cooperation opportunities, continuously explore the business mode and create more value for the development of each other in the background that China’s reform and opening up was further deepened and developed.

On July 25, Xu Siwei listened to the important speech under the title of Conform to the Trend of the Times, Realize the Joint Development made by President Xi Jinping at BRICS Business Forum. Xi Jinping emphasized that the BRICS should conform to the historical trend, insist on win-win cooperation, innovation orientation, being inclusive and the multilateralism and play a constructive role in constructing the new-type international relationship and build a community of shared future for mankind. About 1,200 persons including Faure, President of Togo, Mabuza, and Vice President of South Africa, Ministers of BRICS Ministry of Industry and Commerce and the person of industrial and commercial circles attended the forum. Xu Siwei carried out the friendly exchanges with the Chinese and foreign enterprise representatives attending the forum.

Persons in charge of the Group Office and Dongyue Investment accompanied him to attend the activities above.


Surveyed the subsidiary enterprises in South Africa


Met with President of ABSA


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