On November 25th, 2009, General Manager Mr. Liu Ming Met with Mr. Rafael Valdez Mingramm, the founding partner of Sinolatin Capital. Mr. Liu Ming expressed our warm welcome to his visit.Mr. Rafael Valdez Mingramm was grateful to our reception. He gave us a brief introduction about Latin America. It was abundant in mineral resources, e.g. there were large iron mines in Brazil, Venezuela, Chile, Peru, Cuba and Mexico. Meanwhile, the major copper producers were Chile, Peru, Mexico and Bolivia, who took up 20% of total production in the world. Latin American countries were also rich in oil resource; hereinto Venezuela boasted the biggest reserves. He concluded that China and Latin America had complementarities in development. China needed the resources which were abundant in Latin America, while Latin America was eager for capital from China. He also introduced the main business of Sinolatin Capital. One was project financing of investment banking, the other was private placement for investment.

Mr. Liu Ming analyzed domestic situation. China can only maintain the rapid growth by enlarging domestic consumptions. However, compared with the developed countries, our consumption level per capita was still low, with great potential. He said that CMMC was a state-holding company, which was going to be listed next year. Our traditional businesses were copper, alumina, lead, zinc etc, and our current core business was overseas electromechanical turnkey project. In Investment, we could provide financing and buyer credit, depending on several billion USD support from Ministry of Commerce. We were not limited to traditional mineral resources, also interested in electromechanical turkey project, such as power plant, chemical plant, iron and steel plant.

Mr. Liu Ming emphasized that Latin American market had been our potential one for a long time. Mr. Rafael Valdez Mingramm’s introduction gave us a new view, promoting us to speed up our exploration of Latin America.Both sides also had a deep discussion about the specific projects.