On November 6, 2019, the selection results of the "China’s Enterprise Risk Management Award of 2019" jointly organized by the Chicago Mercantile Exchange (CMEGroup) and PUOKER were officially announced. Shougang Group won the award of "Leading Enterprise in Exchange Rate Risk Management of 2019." Mr. Chris Fix, the Asia-Pacific managing director of CMEGroup presented the award while the foreign exchange risk control professionals of Shougang International Business Department accepted the award on stage.

This year, the International Business Department completed the group's foreign exchange risk control system through independent innovation and formulated the “Group's Foreign Exchange Risk Management Measures,” which provides effective guidance for the group's foreign-related business to establish risk-neutral awareness and actively prevent the risk of exchange rate fluctuations. The two bonds (U.S. and European debt) are hedged in proportion, which has significantly reduced the exchange risk of the group's offshore bonds and effectively controlled the financing cost of the group's external debt.

The China Enterprise Risk Management Award mainly focuses on macro policy risks, impacts on commodities, exchange rate risks, how companies build risk prevention awareness, how to use derivatives to control market risks, risk management system construction, and hedge accounting for appraisal and election.

The Leading Enterprise in Exchange Rate Risk Management was awarded to teams that have performed outstandingly in RMB exchange rate risk management this year. Such teams have a certain scale of international trade business and can use the on-market exchange rate derivatives or the bank system's forward settlement and sale of hedging instruments to prove their contribution to and impact on risk management faced by the global currency market in terms of foreign operations.