The Bank takes excellent corporate governance as an important objective. It consistently improves the modern financial enterprise system with Chinese characteristics and integrates the Party’s leadership with its corporate governance improvement efforts. Adhering to the rules and regulations governing capital markets and relevant industries, the Bank constantly strives to improve its corporate governance framework, which mainly comprises the shareholders' meeting, the Board of Directors, the Board of Supervisors and the Senior Management. This framework operates smoothly owing to a clear division of duties. All special committees of the Board of Directors and the Board of Supervisors performed their duties and functioned effectively, thereby enhancing the Bank's modern corporate governance capabilities.
The Bank continuously works to improve its corporate governance structure, policies and procedures. It persistently followed up and implemented regulatory requirements regarding capital markets, always choosing to adhere to the strictest available standards. It re-examined and self-inspected its corporate governance policies, and comprehensively and systematically reviewed the Articles of Association, the rules of procedure of the shareholders' meeting, the rules of procedure of the Board of Directors and each special committee, the working rules of the Secretary of the Board of Directors and the rules of independent directors.
The Bank places great emphasis on improving its corporate governance operation mechanisms. It ensures that minority shareholders are properly informed and able to participate and make decisions. The shareholders' meeting is held on-site, and online voting for A-Share Holders is available to safeguard the rights and interests of the minority shareholders. The Bank focuses on constantly enhancing coordination with respect to the operation mechanisms of the Board of Directors, information disclosure and stakeholder engagement. It continues to support the Board of Directors to function more constructively and make scientific and efficient decisions. The Bank strives to heighten transparency and proactively performs its duties to all relevant stakeholders, including shareholders, customers, staff and society.
The Bank makes great effort to promote Board diversity. It has formulated the Bank of China Limited Board Diversity Policy, which lays out the stance of the Bank on the diversity of the members of the Board of Directors and the approaches it adopts to realise such diversity on an ongoing basis. The Board of Directors has successfully realised diversity in all respects at this stage, including gender diversity. All appointments are made based on merit, taking into account the skills and experience the Board of Directors as a whole requires, and taking into full consideration various objectives and requirements for diversity, including but not limited to regulatory requirements, gender, age, cultural and educational background, geographical location, professional experience, skills, knowledge, and length of service of directors, etc. The Bank has always applied the aforementioned diversity policy and requirements to the director selection and engagement process.
