March 8th, 2016, CNMC, the Holding Group of CNMCL, signed the special agreement in terms of financial cooperation in central and southern Africa with China Development Bank and China-Africa Development Fund Co., Ltd in Lusaka, the capital of Zambia. This agreement has provided strong guarantee for expanding business and fully implementing ‘going out’ strategy in central and southern Africa by CNMC and CNMCL.
 
Yang Youming, China’s Ambassador to Zambia attended the signing ceremony and spoke highly of the rapid development and bank enterprise cooperation of CNMC and CNMCL in Zambia and other places in central and southern Africa. He pointed out that China and Zambia had a promising future for cooperation. It was hoped that two sides could conduct friendly cooperation，give full play to industry and finance integration, strengthen comprehensive strategic partnership, as well as further promote economic and trade cooperation and improve China-Zamia all-weather friendship through financial institutions and leading Chinese-funded companies in Zambia.
 
This agreement embodies the positive implementation of ‘Ten Big Plans on China-Africa Cooperation’ and China-Africa industry–finance integration strategy by three parties. They all agreed to establish ‘Finance+Industry’ partnership in central and southern Africa, carry out comprehensive cooperation in exploitation of mineral resources, district construction cooperation, international construction contracting as well as others. According to the business development plan and financing needs of CNMC, China Development Bank and China-Africa Development Fund Co., will provide all ranges of financial products services with USD 3 billion intention value, which is once in a blue moon in the credit state-owned large policy banks towards African enterprises. This fully represents the strong support given by Chinese government and bank institutions towards CNMC and CNMCL’s business in central and southern Africa.
 
As the largest Chinese-funded company, CNMC and CNMCL has set up nearly 20 capital enterprises in central and southern Africa since developed Chambishi copper mines, who enjoyed good reputation and extensive impact on local African government and people and called as ‘the best interpretation for China-Africa all-weather friendship’. China Development Bank is a financial organization wholly owned by Chinese government, serving country strategy oriented by the market in a long time and supporting domestic enterprises on international operation and international capacity cooperation. China-Africa Development Fund Co., Ltd is a wholly funded branch of China Development Bank, which is also the first direct stake investment fund focused on Africa in China.