On June 2, Chinese state-owned China Minmetals Corporation (CMC) and state-owned China Metallurgical Group Corporation (MCC) came together for a meeting in Beijing to discuss the overall implementation of the reorganization of the two companies, the plans for which were approved by China’s State-owned Assets Supervision and Administration Commission (SASAC) on December 8, 2015. According to the reorganization plans, MCC will be merged with China Minmetals Corporation (CMC), becoming the wholly-owned subsidiary of the latter.
After the merger, CMC will have total assets exceeding a value of RMB 700 billion ($106.38 billion) and possess 29 national scientific innovation platforms and key laboratories. In 2015, CMC registered an operating revenue of RMB 430 billion ($65.35 billion).