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Announcement on the Resolutions of the 21st Meeting of the 4th Session BOD

2008-10-25

 

The 21^st meeting of the 4^th session Board of Directors of the Bank was convened by mail voting on October 23, 2008. All 18 meeting notices, sent out via email on October 13, 2008, were collected. The meeting complied with the rules and regulations under the Company Law and the Articles of Association and the resolutions made were legal and effective.

 

The meeting reviewed and passed the following resolutions:

 

1. The 2008 3^rd Quarterly Report of the Bank

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

2. Resolution on Increasing Budget for the Writing-off of Dead Loans in 2008

The meeting reviewed and passed the Proposal on Increasing Budget for the Writing-off of Dead Debts in 2008. The meeting recognized that, in accordance with the implementation of the Bank’s writing-off of dead loans in 2008, tendency of quality changes of the Bank’s credit assets and relevant rules under the newly promulgated Administrative Measures on Dead Loan Writing-offs of Financial Institutions (2008 Revised), adding an additional RMB 400 million to the budget for the writing-off of the Bank’s dead Loans would be supportive to effectively reduce the outstanding NPL and safeguard the stability of the Bank’s NPL ratio, which was in line with the Bank’s actual status of business operation. The meeting consented to submit this proposal to the Shareholders’ Meeting for review.  

 

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

3. Resolution on Revising the Administrative Measures on Dead Loan Writing-offs of the Bank

For details, please refer to the website of the Shanghai Stock Exchange at: www.sse.com.cn.

 

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

4. Resolution on the Administrative Measures on Loss on Debt Restructuring

For details, please refer to the website of the Shanghai Stock Exchange at: www.sse.com.cn.

 

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

5. Resolution on Stipulating the Rules for Operational Information Reporting System

For details, please refer to the website of the Shanghai Stock Exchange at: www.sse.com.cn.

 

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

6. Resolution on Setting up the Investment Management Office of the Strategic Investment Committee of the BOD and the Office of the Risk Management Committee of the BOD

 

Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.

 

7. Resolution on Setting up the Office of the SME Financial Service Committee

Voting result: Affirmative: 17 votes; Negative: 0 vote; Abstention: 1 vote.

 

8. Resolution on Purchasing the Office Building for Fuzhou Branch

The meeting reviewed and passed the Proposal on Purchasing the Office Building for Fuzhou Branch, and consented to purchase a building at Hudong Lu, the center of Fuzhou, for the office building of Fuzhou Branch. The total purchasing amount was RMB 97.82 million (excluding tax and refurbishment expenses).

 

 

 

 

 

 

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