Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1339)
ANNOUNCEMENT ON ELECTION OF NON-EMPLOYEE REPRESENTATIVE SUPERVISORS TO SERVE THE FOURTH SESSION OF THE BOARD OF SUPERVISORS
The meeting of the board of supervisors (the “Board of Supervisors”) of The People’s Insurance Company (Group) of China Limited (the “Company”) was held by signature from 27 April to 29 April 2021. Having voted by the supervisors who have attended the meeting of the Board of Supervisors of the Company, the Board of Supervisors of the Company considered and approved the resolution in relation to the nomination of candidates for the non-employee representative supervisors of the fourth session of the Board of Supervisors.
According to the resolution passed at the meeting of the Board of Supervisors, the Board of Supervisors has nominated Mr. Huang Liangbo and Mr. Xu Yongxian as the candidates for the shareholder representative supervisors of the fourth session of the Board of Supervisors of the Company, and Ms. Starry Lee Wai King as the candidate for the independent supervisor of the fourth session of the Board of Supervisors of the Company. Except for Ms. Starry Lee Wai King, all the above-mentioned candidates for supervisors are existing supervisors.
The term of office of Ms. Starry Lee Wai King as a supervisor shall commence from the date of approval at the general meeting of the Company and her qualification as a supervisor being approved by the China Banking and Insurance Regulatory Commission until the expiry of the term of the fourth session of the Board of Supervisors of the Company. The term of office of other candidates for supervisors shall commence from the date of approval at the general meeting of the Company until the expiry of the term of the fourth session of the Board of Supervisors of the Company. The above- mentioned non-employee representative supervisors upon appointment, together with Ms. Zhang Yan and Mr. Wang Yadong (re-appointment), two employee representative supervisors elected at the employee representative meeting of the Company on 28 April 2021, will constitute the fourth session of the Board of Supervisors of the Company.
- 1 - Please refer to the Appendix of this announcement for the biographical details of the candidates for the non-employee representative supervisors of the fourth session of the Board of Supervisors and details of appointment.
The Company will dispatch documents in relation to the convening of general meeting such as notice and circular to shareholders as soon as reasonably practicable.
By Order of the Board The People’s Insurance Company (Group) of China Limited Luo Xi Chairman
Beijing, the PRC, 29 April 2021
As at the date of this announcement, the executive directors of the Company are Mr. Luo Xi, Mr. Wang Tingke, Mr. Xie Yiqun and Mr. Li Zhuyong, the non-executive directors are Mr. Wang Qingjian, Mr. Miao Fusheng, Mr. Wang Shaoqun, Ms. Cheng Yuqin and Mr. Wang Zhibin, and the independent non-executive directors are Mr. Shiu Sin Por, Mr. Ko Wing Man, Mr. Lin Yixiang and Mr. Chen Wuzhao.
- 2 - APPENDIX: BIOGRAPHICAL DETAILS OF THE CANDIDATES FOR THE NON- EMPLOYEE REPRESENTATIVE SUPERVISORS OF THE FOURTH SESSION OF THE BOARD OF SUPERVISORS AND DETAILS OF APPOINTMENT
Candidates for the Shareholder Representative Supervisors
Mr. Huang Liangbo (黃良波), aged 56, the Chairman of the Board of Supervisors of the Company, is a senior economist. Mr. Huang worked in the People’s Bank of China from August 1991 to June 2010 and successively served as the deputy chief of the human resources department, president of Nanning Central Sub-branch and chief of Guangxi Zhuang Autonomous Region Branch of State Administration of Foreign Exchange. He worked in the Export Import Bank of China from June 2010 to November 2019, and served as the general manager of the human resources department from June 2010 to August 2015, member of the business committee from September 2011 to August 2014, assistant to president from December 2013 to February 2015 and vice president from February 2015 to November 2019. He was elected as a representative of the Eleventh National People’s Congress in January 2008. Mr. Huang graduated from East China Normal University in July 1986 with a bachelors’ degree in Philosophy and graduated from Renmin University of China and obtained a master’s degree in Law in August 1991.
Mr. Xu Yongxian (許永現), aged 57, is a Shareholder Representative Supervisor of the Company and a senior economist. Mr. Xu joined the Ministry of Finance in August 1990 and until December 2009, served successively as deputy director of the General Division of the Taxation Department, deputy director of the General Division of the Taxation Regulation Department, director of the General Division and director of Local Tax Division I of the Taxation Department, and was deputy department level cadre of the Taxation Department of the Ministry of Finance from September 2009 to December 2009. Mr. Xu has been a Supervisor of the Company since September 2009. Mr. Xu graduated from the Central Institute of Finance and Economics (now known as Central University of Finance and Economics) in July 1987 with a Bachelor’s degree in Taxation and a Master’s degree in Finance in July 1990.
Candidate for the Independent Supervisor
Ms. Starry Lee Wai King, SBS, JP, aged 47, is currently a member of the National Committee of the CPPCC, a member of the Legislative Council of the HKSAR, a member of the Kowloon City District Council, chairman of DAB (a major political party in Hong Kong), an advisor of the Hong Kong University of Science and Technology and a consultant of KPMG Hong Kong. Ms. Lee has been a member of the Kowloon City District Council of the HKSAR since January 2000, a member of the 12th Committee of the Wuhan Municipal People’s Political Consultative Conference in January 2007, a member of the Legislative Council of the HKSAR since October 2008. From July 2012 to March 2016, she was appointed as a member of the Executive Council, elected as chairman of the DAB since April 2015 and served as chairman of the House Committee of the Legislative Council of the HKSAR since October 2016. Ms. Lee has successively been employed by Crowe (HK) CPA Limited, PricewaterhouseCoopers and KPMG, and is currently a consultant of KPMG Hong Kong. Ms. Lee has successively served in various public positions: a member of the Town Planning Board
- 3 - from April 2006 to March 2010, a member of the Energy Advisory Committee from July 2006 to July 2012, a director of The Hong Kong Mortgage Corporation Limited from April 2009 to April 2016, a council member/advisor of the Hong Kong University of Science and Technology since August 2010, a member of the Insurance Advisory Board from October 2010 to September 2016, a member of the SMEs Advisory Board from January 2011 to December 2016, and a member of the Disaster Relief Fund Advisory Committee from August 2012 to March 2016. Ms. Lee graduated from the Hong Kong University of Science and Technology with a bachelor’s degree in business administration (accountancy) in November 1996, became a member of the Hong Kong Institute of Certified Public Accountants in June 2002 and obtained a MBA from The University of Manchester in the United Kingdom in December 2010.
Other Information
The shareholder representative supervisors will not receive any supervisor’s fee from the Company, but will receive corresponding remuneration in accordance with their specific management positions in the Company, including salary, performance bonus and allowance. The remuneration of shareholder representative supervisors shall be determined in accordance with the relevant remuneration management measures of the Company. At the end of each year, the Nomination and Remuneration Committee of the Board of Directors will draw up a remuneration settlement scheme, which will be considered by the Board of Directors and to be proposed at the general meeting of shareholders for approval. The Company will disclose the relevant remuneration when it is determined. For the specific remuneration, please refer to the annual reports, relevant announcements, and circulars to be published by the Company in due course.
The independent supervisor will receive supervisor’s fee from the Company, and the basic remuneration will be RMB250,000 per person per year (before tax). In addition, the additional remuneration for serving as the chairman of the professional committee of the Board of Supervisors is RMB50,000 per year (before tax).
Save as disclosed above, each of the above-mentioned candidates for the non-employee representative supervisors of the fourth session of the Board of Supervisors has not held any directorships in any other listed companies in the past three years, does not hold any other major appointments and professional qualifications, nor holds any other position in the Company or any of its subsidiaries, and does not have any relationships with any directors, senior management, substantial shareholders or controlling shareholders of the Company.
As at the date of this announcement, each of the above-mentioned candidates for the non-employee representative supervisors of the fourth session of the Board of Supervisors does not hold any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) and has not been subject to any disciplinary actions by the China Securities Regulatory Commission and other relevant authorities and the reprimand by the stock exchanges.
- 4 - Each of the above-mentioned candidates for the non-employee representative supervisors of the fourth session of the Board of Supervisors confirmed that, as at the date of this announcement, there are no other matters relating to their appointments that need to be brought to the attention of the shareholders, nor is there any other information to be disclosed pursuant to the requirements under Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
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