There are five board committees under the Board of Directors to oversee specific professional matters of the Company, including the Audit Committee, the Management Training and Remuneration Committee, the Risk Management Committee the Strategy and Investment Decision Committee and the Budget, Execution and Assessment Committee, each with clear and specific written terms of authority. Each board committee regularly reports on their work progress and discusses the conclusions with the Board of Directors. Each board committee is accountable to the Board of Directors, and acts in accordance with the rules and regulations for meetings of the board committees adopted by the Board of Directors.

The principal duties of the Audit Committee are to review and supervise the Company's financial reporting process, and to assess the effectiveness of the Company's internal control system, to supervise the Company's internal audit system and to recommend the engagement or replacement of external auditors. The Audit Committee is also responsible for communications between the internal and the external auditors.

The Audit Committee consists of all independent non-executive directors of the Company, with Mr.Bruce Moore, as chairman. The other members include Mr.Sun Changji and Mr.Ma Yongwei.

The Nomination and Remuneration Committee is mainly responsible for reviewing the structure of the Board, drawing up plans for the appointment and succession plans for directors and senior management. The committee is also responsible for formulating training and remuneration policies for the senior management officers of the Company. Independent non-executive director Sun Changji is the Chairman of the committee. The other members include Mr. Bruce Moore and Mr. Miao Jianmin.

The Risk Management Committee is mainly responsible for assisting the Management in establishing and improving the internal control system, formulating the business risk management policy of the Company, presiding over the feasibility and risk assessment of important business activities, conducting regular evaluation on the performance of all the business departments and reviewing assessment reports of the Company in relation to business risks and internal control positions, identifying risks or potential risks in the day-to-day operations and making recommendations to the Management, dealing with contingent and significant risks or crises, and performing and exercising other duties or power delegated to or granted by the Board of Directors.

Independent non-executive director Mr. Liang Dingbang is the Chairman of the committee. The other members include Mrs. Zhuang Zuojin and Mrs. Liu Yingqi.

The principal duties of the Strategy and Investment Decision Committee include drawing up long-term development strategies and significant investment or financing plans of the Company, proposing significant capital investment for operation projects, and conducting studies and making recommendations on other important matters affecting the development of the Company.

Independent non-executive director Mr. Ma Yongwei is the Chairman of the committee. The other members include Mr. Wan Feng, Mr. Shi Guoqing, Mr. Lin Dairen and Mr. Liang Dingbang.

The principal duties of the Budget, Execution and Assessment Committee include implementing total budget management, optimizing resource and policy distribution, assessing the budget execution results and business operation targets, inspecting and supervising fulfillment of board meeting resolutions.

The Chairman of the Board and executive director Mr. Yuan Li is the Chairman of the committee. The other members include Mr. Wan Feng, Mrs. Liu Yingqi, Mr. Shi Guoqing, Mrs. Zhuang Zuojin, Mr. Ma Yongwei and Mr. Sun Changji.