21 Jan 2011
RUSAL Ready for China’s New Five-Year Plan
Deputy CEO Says Company Primed to Supply Growing Market
21 January 2011 – The world’s largest aluminium producer stands ready to help satisfy China’s growing need for the metal over the next five years, said Oleg Mukhamedshin, Deputy CEO and member, Executive Committee UC RUSAL.
“We understand that based on the new five-year development plan, China expects to produce about 20 million tonnes of aluminium per year,” said Mr Mukhamedshin on 18 January, while in Hong Kong attending the recently concluded Asian Financial Forum.
“At the same time, (China) is expected to consume about 24 or 25 million tonnes of aluminium per year by the end of 2015. So clearly it’s going to be in net input position, and Rusal is happy to supply this gap to China. We are located just 500 kilometres from China, so we can do it easily.”
Mr Mukhamedshin made these comments to the HKTDC webcasting service. For an expanded version of his interview, please visit www.youtube.com/hktdc.
More than 1,700 participants from over 30 countries and regions took part in the fourth Asian Financial Forum (AFF), which took place 17-18 January at the Hong Kong Convention and Exhibition Centre. The total marks a new AFF attendance record.
Top International Speakers
Forum highlights included more than 70 speakers, among them the mainland’s Cheng Siwei, Former Vice Chairman, Standing Committee, National People's Congress, and Chairman, International Finance Forum (Beijing); Shang Fulin, Chairman, China Securities Regulatory Commission; and Wu Dingfu, Chairman, China Insurance Regulatory Commission. Other prominent mainland speakers who took part in the two-day forum included Chen Yuan, Chairman, Board of Directors, China Development Bank, and Xiao Gang, Chairman, Bank of China Ltd.
Major overseas speakers included William Hague, Secretary of State for Foreign and Commonwealth Affairs, the United Kingdom; Cesar V Purisima, Secretary of Finance, The Philippines; Rintaro Tamaki, Vice Minister of Finance for International Affairs, Japan; Bill Shorten, Assistant Treasurer and Minister, Financial Services and Superannuation, Australia; John Peace, Chairman, Standard Chartered PLC; and Anthony Bolton, President, FIL Investment Management (HK) Ltd.
Asia, particularly the Chinese mainland, was the central focus of this year’s AFF. Panel discussions ranged from global investment opportunities and challenges to Asia in a global environment of low interest rates and excess liquidity, to China opportunities and mainland enterprises in the global scene.
AFF 2011 presented nine thematic workshops. Highlights included a workshop on “Hong Kong as China’s Global Financial Centre – the RMB Dimension,” organised by the Hong Kong Government’s Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the HKTDC. The AFF Deal Flow session today featured more than 400 pre-arranged business-matching meetings between companies and potential investors.
Forum highlights also included two luncheon addresses: on 17 January, Chongqing Mayor Huang Qifan spoke about the emergence of his city on the world stage. The next day, Columbia University Professor Robert Mundell, Nobel Prize Laureate in Economics, talked about realigning currencies in a non-aligned world.
AFF Webcasts on hktdc.com: http://www.hktdc.com/info/webcast/v/en/en/1X04ATUR
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About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com