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Xinhua News Agency’s Paper Focuses on Emerging Industries Helping the Transformation and Upgrading of MCC
CopyFrom:MCC Date:08 October 2016
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On October 4th, the Xinhua News Agency specially published the article Emerging Industries Help MCC Group’s Transformation and Upgrading, which focuses on the MCC Group’s emerging industries development approach. The publication of this report attracted the great attention of mainstream social media. Over 20 media groups including China.com.cn, IFENG, Sohu, WWW and China Youth Online reprinted the report in real time one after another. The following is the full text:

The State Council SASAC recently published business performance appraisal of central enterprise principals for 2015. The Metallurgical Corporation of China Ltd. was rated as an A-level enterprise, which means that it has climbed to the A-level from the D-level in just three years, and the scientific research, investment and transformation of emerging industries are considered important factors in such a rise.

Prior to 2012, the MCC Group was listed as a special supervised debt risk enterprise by SASAC for three consecutive years, and rated as a D-level enterprise in the business performance appraisal of central enterprise principals for two consecutive years. Its annual loss value once ranked third among central enterprises. However, MCC’s performance evaluation jumped to the B-level after 2013, and took the lead in getting out of the red among central enterprises.

Annual report data shows that the total loss value of the MCC Group reached up to RMB 7.36 billion in 2012; interest-bearing debt was over RMB 170 billion; and receivables and inventory exceeded RMB 210 billion. By 2015, the MCC Group realized profits of RMB 6.86 billion and an average annual increase of 24.8%.

The company’s success is inseparable from its scientific and technological innovation. From 2013 to 2015, the Group’s scientific research investment respectively reached RMB 4.694 billion, RMB 4.788 billion and RMB 5.179 billion. Its high investment allowed MCC to continuously develop strategic emerging industries and preempt the zenith of technology.

According to our sources, MCC currently has 53,000 engineers and technicians, and 17 national innovation platforms and national key laboratories, and has won 54 National Technical Excellent Awards. Its accumulated number of effective patents is 17,000 and its technical innovation level leads central enterprises.

In the first half of this year, MCC established the Theme Park Technology Research Institute, Health Industry Technology Research Institute and Water Environment Technology Research Institute on the basis of its existing three technology research institutes. They are devoted to key theme park construction technology and the intelligence and health community, as well as the development, promotion and application of emerging industries.

As MCC President Guo Wenqing once said, “Emerging industries represent a new field for MCC, and also an important factor for MCC to rebuild its advantages. MCC needs to solidify its basic construction mode and standardize the development and construction mode of its six technology institutes in order to lead emerging industries.”

Next, MCC will consider technological breakthroughs as its driving force, pushing innovation in business modes while promoting urban underground pipe galleries, smart city, beautiful village and sponge city technology, theme parks, the health industry, water environment technology and other fields.



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