The Company has an internal audit department which plays a major role in monitoring the internal governance of the Company. The major tasks of the internal audit department are reviewing the financial condition and management of the Company and conducting comprehensive audits of all subsidiaries of the Company on a regular basis. The Company has taken many steps to enhance the internal control of the Company, such as having all departments internal control inspection and appraisal, strengthening the checks and supervision of implementation of the internal control systems by the audit department and according to some weakness found during examination of the internal control, further improving the internal control system and strengthening the implementation of all the internal control systems.

Audit Committee

The committee oversees our financial reporting process and reviews our internal control system. It is also responsible for making recommendations to the Board on the appointment of our external auditors. The audit committee comprises three members, including Dr. Loke Yu, Ms. Zhang Jiangdong and Mr. Li Xikui. The chairman of the audit committee is Dr. Loke Yu.  

Remuneration Committee

The primary duties of the remuneration committee are to:

(i) Make recommendations to the Directors on our policy and structure for the remuneration of our Directors and senior management and on the establishment of a formal and transparent procedure for developing policies on such remuneration;

(ii) Determine the terms of the specific remuneration package of each executive Director and senior management of our Company;

(iii) Review and approve performance-based remuneration by reference to corporate goals and objectives resolved by the Directors from time to time;

(iv) Review the structure, size and composition of the Board on a regular basis and make recommendations to the Board regarding any proposed changes;

(v) Identify, select or make recommendations to the Board on the selection of individuals nominated for directorships;

(vi) Make recommendations to the Board on relevant matters relating to the appointment or reappointment of Directors of our Company and succession planning for our Directors.

The remuneration committee comprises five members, including Mr. Fang Ankong, Mr. Stephanus Maria van Ooijen, Dr. Loke Yu, Ms. Zhang Jiangdong and Mr. Li Xikui. The chairman of the remuneration committee is Mr. Fang Ankong. 

Nomination Committee

The main role of the Nomination Committee is to make recommendations to the Board regarding candidates to fill vacancies on the Board and senior management.

The Nomination Committee comprises Mr. Fang Ankong, Mr. Stephanus Maria van Ooijen,Dr. Loke Yu, Ms. Zhang Jiangdong and Mr. Li Xikui.The chairman of the nomination committee is Mr. Stephanus Maria van Ooijen.