During the economic crisis that hit all industries worldwide in 2008, many industries struggled to stay alive, or at the very least make a profit. The ones that succeeded did so due changing the way that they did business.
The Aluminum Corporation of China is a multinational corporation that achieved this; actually managing to make some gains despite the initial losses.
Unlike other companies that have been forced to shut down or at least barely stayed afloat during the downturn in the aluminum industry, the Aluminum Corporation of China has managed an overall profit since 2008.
Xiong Weiping, the company's CEO, says the key to its success has been reforming it's focus and business strategy.
"Our deficits have mainly come from the aluminum sector, but we are making profits from other businesses within our corporation. It wasn't just luck that we had escaped the same fate that occurred in 2008. It was the result of our restructuring, and it is only just the beginning."
China continues to be abundant in resources, but it's per-capita quantity of materials is still very low. This has required China to seek natural resources outside of its borders, a move that will strengthen its competitiveness in the international market.
If China was to face a lack of such resources, it could be disastrous for both the Aluminum Corporation of China and the country as a whole.
Xiong Weping explains.
"We must rely on international cooperation, because China doesn't have enough resources to support all mining companies. We must explore, acquire and construct resource bases overseas in order to become a world leader in this field."
Xiong went on to say that he is confident and optimistic about the future of the company and the industry as a while. He believes the idea of "going global" will be the ultimate guiding principle for all Chinese mining enterprises.
For CRI, I'm Shuangfeng.

