Central Huijin has established a number of internal procedures and policies to ensure a sound corporate governance. Many of these measures are incorporated within its Articles of Association. For reference, we have provided key extracts from the Articles that explain our corporate governance policies.
Central Huijin Investment Ltd. (the "Company"), a wholly state-owned company duly incorporated under the Company Law of the People's Republic of China, is a wholly-owned subsidiary of China Investment Corporation.
The Company, according to the authorization of the State Council, makes equity investments in the state-owned major financial enterprises, and shall, to the extent of its capital contribution, exercise the rights and perform the obligations as an investor of the state-owned major financial enterprises on behalf of the State in accordance with applicable laws, to achieve the goal of preserving and enhancing the value of the State-owned financial assets. The Company shall not conduct any other commercial activities, and shall not interfere with the day-to-day business operations of the state-owned major financial enterprises it controls.
The Company's Chinese name shall be "中心汇金投资无限义务公司", and its English name shall be "Central Huijin Investment Ltd."
The scope of business of the Company is as follows: to accept the authorization of the State Council to make equity investments in state-owned major financial enterprises, and other relevant lines of business as approved by the State Council.
The Company shall establish its Board of Directors, which shall consist of not less than five (5) directors. The Board shall have one Chairman, who shall be the Company's legal representative. All directors shall be appointed by the State Council. The term of office of a director is three (3) years, and a director may be re-appointed.
The Company shall establish its Board of Supervisors , which shall consist of not less than three (3) supervisors. All supervisors shall be appointed by the State Council. The term of office of a supervisor is three (3) years, and a supervisor may be re-appointed.
These Articles of Association shall come into effect upon the approval by the State Council.
Any amendments to these Articles of Association shall be proposed by the Board of Directors and shall come into effect upon approval by the State Council. The State Council authorizes the Company's Board of Directors to interpret the Articles of Association.