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Board of Supervisors

2020-11-24

The board of supervisors of Postal Savings Bank of China Co., Ltd. (the “Bank”)

The Bank shall have a Board of Supervisors. The Board of Supervisors is a supervisory entity of the Bank and shall be responsible to the shareholders’ general meeting. The Board of Supervisors has 9 supervisors in total, including 3 shareholders representative supervisors, 3 external supervisors and 3 employee supervisors.The Board of Supervisors shall perform the following duties:

(1) to supervise the performance of the Board and the senior management, to supervise and question the duty of performance of directors and members of the senior management, and to urge directors and members of the senior management to correct their acts which impair the benefits of the Bank;

(2) to propose the dismissal of or to initiate litigation against directors and members of the senior management who breach laws, administrative regulations, the Articles or the resolution of the shareholders’ general meeting;

(3) to examine and supervise the financial activities of the Bank;

(4) to supervise the business decisions, risk management and internal control of the Bank, to guide the internal audit department of the Bank to independently perform its duties of audit and supervision, and to carry out the business management and performance appraisal for the internal audit department;

(5) to propose to convene an extraordinary shareholders’ general meeting and, in case the Board does not perform the obligations to convene and preside over shareholders’ general meetings in accordance with the Company Law, to convene and preside over shareholders’ general meetings;

(6) to submit proposals to the shareholders’ general meeting;

(7) to formulate amendments to the rules of procedures of the Board of Supervisors;

(8) to supervise the implementation of policies and general management system of the Bank;

(9) to nominate supervisors representing shareholders, external supervisors and independent directors;

(10) to conduct audit on resigning directors and members of the senior management as necessary;

(11) to communicate with directors on behalf of the Bank;

(12) to review financial reports, operation reports and profit distribution proposals submitted by the Board to the shareholders’ general meeting, and to engage, on behalf of the Bank, certified accountants and auditors to review such reports if any questions are raised;

(13) to examine the periodical reports of the Bank prepared by the Board and produce written review opinions thereon;

(14) to supervise the appointment, dismissal, reappointment and audit work of the external auditors of the Bank;

(15) to formulate the performance evaluation measures and compensations measures or plans for supervisors, and to make recommendations on the remuneration distribution plan of supervisors based on performance evaluation of supervisors, and submit them to the shareholders’ general meeting for approval;

(16) to perform other duties as required by relevant requirements of laws, administrative regulations, departmental rules and the Articles and authorized by the shareholders’ general meeting.

Composition and resume of the board of supervisors 

Chen Yuejun, Chairman of the Board of Supervisors, Shareholder Representative Supervisor

Chen Yuejun, male, obtained a doctor’s degree in Economics from the Southwestern University of Finance and Economics, and holds the title of Senior Economist. Mr. Chen has served as Chairman of the Board of Supervisors of the Bank since January 2013. He previously served as Deputy Director and Director of the Audit and Supervision Bureau and Bank Supervision Department I of PBOC, Deputy Chief of the Sichuan Regulatory Bureau of CBRC, Deputy Director of the Banking Regulatory Department IV of CBRC, and Director (Director General level) of the Finance Department of the People’s Government of Sichuan Province.

Li Yujie, Shareholder Representative Supervisor

Li Yujie, male, graduated from Henan University and holds the title of Senior Accountant. Mr. Li has served as Shareholder Representative Supervisor of the Bank since May 2016. He previously served as Deputy Director of the Audit Division of Henan Posts and Telecommunications Administration Bureau, Deputy Director and Director of the Audit Office and Director of the Audit Division of Henan Post Bureau, Chief of Henan Kaifeng Municipal Post Bureau, Director of the Planning and Finance Division of Henan Post Bureau, Manager of the Planning and Finance Department and Deputy General Manager of Henan Post Company, General Manager of Shanxi Post Company, and Chairman of Shanxi Postal Express & Logistics Company. Mr. Li currently serves as General Manager of Finance Department of China Post Group. He concurrently serves as Director of Hunan Copote Science & Technology Co., Ltd.

Zhao Yongxiang, Shareholder Representative Supervisor

Zhao Yongxiang, male, obtained a master’s degree in Engineering from Beijing University of Posts and Telecommunications and holds the title of Senior Economist. Mr. Zhao has served as Shareholder Representative Supervisor of the Bank since May 2016. He previously served as Deputy Chief of Hebei Shijiazhuang Municipal Post Bureau, Deputy Director of the Planning and Finance Department of the State Post Bureau, Deputy Chief (presiding over the work) and Chief of Hebei Shijiazhuang Municipal Post Bureau, Assistant Counsel of Hebei Post Bureau, Assistant Counsel of Hebei Post Company, Deputy General Manager of the Finance Department of China Post Group, and Director General of the Audit Bureau of China Post Group and Supervisor of Beijing Ule E-Commerce Company Limited. Mr. Zhao currently serves as Managing Director and Inspection Commissioner of Discipline Inspection Office of the Leading Party Members’ Group of China Post Group. He concurrently serves as Chairman of the Board of Supervisors of Hunan Copote Science & Technology Co., Ltd., Chairman of the Board of Supervisors of China Post & Capital Fund Management Co., Ltd..

Wu Yu, External Supervisor

Wu Yu, male, obtained a bachelor’s degree in Law from Renmin University of China and holds the title of Senior Editor. Mr. Wu has served as External Supervisor of the Bank since May 2016. He previously served as Chief Editor of Entrepreneurship Weekly Publication, Deputy Director of Chief Editor Office and Director (Deputy Director General level) of Finance News Department at Economic Daily Press, Senior Vice President and Director of ChemChina Asset Management Co., Ltd, and Director of Sichuan Tianyi Science & Technology Co., Ltd. (now Haohua Chemical Technology Group Co., Ltd.) and Vice Chairman of Beijing Central Enterprise Investment Association. He currently served as General Manager of Yunnan Jinggu Forestry Company Limited.

Bai Jianjun, External Supervisor

Bai Jianjun, male, obtained a master’s degree and doctor’s degree in Law from Peking University. Mr. Bai has served as External Supervisor of the Bank since October 2019. He previously served as a professor and tutor of doctorate candidates in Peking University Law School, Director of the Research Institute of Empirical Legal Affairs of Peking University, Deputy Director of the Financial Law Research Center of Peking University, a visiting researcher in New York University in the USA, a visiting professor in Niigata University in Japan, External Supervisor of China Construction Bank Corporation, and Independent Director of Beijing Boya-Yingjie Science & Technology Co., Ltd. Mr. Bai currently serves as Independent Non-executive Director of China Securities Finance Co., Ltd., and Independent Director of Sichuan Xinwang Bank Co., Ltd.

Chen Shimin, External Supervisor

Chen Shimin, male, obtained a bachelor’s degree and a master’s degree in Economics from the Shanghai University of Finance and Economics, a doctor’s degree in Accounting from the University of Georgia in the USA, and is a Certified Management Accountant in the USA. Mr. Chen has served as External Supervisor of the Bank since December 2019. He has taught in various universities both at home and abroad, including the Shanghai University of Finance and Economics, Clarion University of Pennsylvania in the USA, Lingnan University in Hong Kong, University of Louisiana at Lafayette in the USA, and the Hong Kong Polytechnic University. He previously served as a professor of Accounting, and Sub-dean and Curriculum Director of the master’s degree programme of business administration of China Europe International Business School, Independent Non-executive Director of Hailan Holdings Limited, Independent Director of Anhui Huaheng Biotechnology Co., Ltd., and External Supervisor of Shanghai Pudong Development Bank Co., Ltd. He currently serves as a professor of Accounting and Director of the Case Center in China Europe International Business School, as well as Independent Director of Anxin Trust Co., Ltd., Yincheng International Holdings Co., Ltd., Power Electronics Group Limited, Advanced Micro-Fabrication Equipment (Shanghai) Inc. China, Huaxia Happiness Foundation Co., Ltd and China Guangfa Bank Co., Ltd.

Li Yue, Employee Supervisor

Li Yue, male, obtained a bachelor’s degree in Arts from Heilongjiang University and holds the title of Senior Corporate Culture Specialist. Mr. Li has served as Employee Supervisor of the Bank since December 2012. He previously served as Project Manager of the Investment Attraction Bureau, Deputy Director and Director of Beijing Liaison Office of Jiangsu Nantong Economic & Technological Development Area, Deputy Director of Beijing Liaison Office of Nantong People’s Government of Jiangsu Province, as well as Deputy Director (presiding over the work) of Party and Masses’ Affairs Department, Deputy Director of Inspection and Supervision Department, Director of Party and Masses’ Affairs Department and Director of Party Committee and Party Building Department of the Bank. He currently serves as Director of Party Building Department, Deputy Secretary of the Communist Party Committee , Secretary of the Party Discipline Inspection Committee and Chairman of the Labour Union of the direct department of the Bank.

Bu Dongsheng, Employee Supervisor

Bu Dongsheng, male, graduated from the Party School of Liaoning Provincial Committee of the Communist Party of China. Mr. Bu has served as Employee Supervisor of the Bank since May 2017. He previously served as Deputy Director and Director of the Business Division II, Director of the Division IV and Director of the Division II of the Liaoning Fiscal Ombudsman Office of the Ministry of Finance, Vice President of Liaoning Branch, the person in charge of the Audit Office and the President of Hubei Branch of the Bank. He is currently the President of Anhui Branch of the Bank.

Gu Nannan, Employee Supervisor

Gu Nannan, male, obtained a master’s degree in Management from the Australian National University and is a senior economist. Mr. Gu has served as Employee Supervisor of the Bank since June 2021. He served as the Deputy Director of Personnel and Education Department and the Deputy Director of Organization Department of the Party Committee of Beijing Municipal Postal Administration, the General Manager of the Human Resources Department of the Beijing branch of the Bank, the Deputy General Manager of the Human Resources Department, the Deputy General Manager (presiding over the work) of Office of the Board of Directors and the General Manager of Office of the Board of Directors of the Bank. He currently serves as the General Manager of the Office of the Board of Supervisors of the Bank.

Board Committee composition and responsibilities

There are 3 special committees under the Board of Supervisors, namely Nomination Committee, Duty Performance Supervision Committee and Finance and Internal Control Risk Supervision Committee. The composition and responsibilities of these committees are listed as follows:

Name

Nomination Committee

Duty Performance Supervision Committee

Finance and Internal Control Risk Supervision Committee

Chen Yuejun




Li Yujie

M



Zhao Yongxiang


M


Wu Yu



C

Bai Jianjun

C



Chen Shimin


C


Li Yue


M

M

Bu Dongsheng



M

Gu Nannan

M

M

M

C: Chairman

M: Member

1.Nomination Committee

•Developing procedures and standards for the appointment of shareholders representative supervisors and external supervisors; putting the rules into enforcement after getting approvals from the Board of Supervisors and the Shareholders Meeting.

•Making preliminary review on qualifications of the supervisor candidates; giving advices to the Board of Supervisors accordingly.

•Supervising the procedures of directors’ appointments.

•Ensuring salary system of the bank and salary of senior managers are reasonable; deliberating on salary plans of supervisors.

•Giving advices to the Board of Supervisors about the candidates of External Supervisors, Shareholders Representative Supervisors and Independent Directors.

•Discussing the public affairs and documents suggested by the Board of Directors and Senior Management.

•Dealing with other tasks assigned by the Board of Supervisors.

2.Duty Performance Supervision Committee

•Developing regulations, working plans and implementation plans of supervision on duty performance of the Board of Directors and the Senior Management members; putting the rules into enforcement after getting approvals of the Board of Supervisors.

•Making supervision reports on duty performance of the Board of Directors and the Senior Management; submitting the reports to the deliberation of the Board of Supervisors.

•Making audit plans, if needed, on the departure of the Board of Directors members and the Senior Management members; putting the rules into enforcement after getting approvals of the Board of Supervisors.

•Developing an evaluation system on supervisors’ duty performance and organizing the evaluation; submitting the results to the deliberation of the Board of Supervisors.

•Discussing the public affairs and documents suggested by the Board of Directors and Senior Management.

•Dealing with other tasks assigned by the Board of Supervisors.

 3.Finance and Internal Control Risk Supervision Committee

• Developing regulations, working plans and implementation plans of supervision on financial activities, internal control practices and risk management of our bank; putting the rules into enforcement after getting approvals of the Board of Supervisors.

• Making supervision reports on financial activities, internal control practices and risk management of our bank; submitting the reports to the deliberation of the Board of Supervisors.

• Reviewing the documents that the Board of Directors submits to Shareholders Meeting, including financial reports, operating reports, profit allocation plans and other financial documents, then accordingly giving advices to the Board of Supervisors; if problems were founded, advising the Board of Supervisors to delegate certified accountants and auditors to recheck the plans, in the name of our bank.

• Supervising the legitimacy of employing external audit institutions, specifically in reasonable terms and pays of employment; supervising the working independence and efficiency of external auditors, and giving advices to the Board of Supervisors accordingly.

• Supervising the development conditions of governance structure in internal control practices, together with responsibility division and duty performance of the related chargers, and giving advices to the Board of Directors accordingly.

• Supervising the development conditions of governance structure in comprehensive risk management, together with responsibility divisions and duty performances between the related chargers, and giving advices to the Board of Directors accordingly.

• Discussing the public affairs and documents suggested by the Board of Directors and Senior Management.

• Dealing with other tasks assigned by the Board of Supervisors.