CITIC Limited Half-Year Report 2020

136 Half-Year Report 2020 CITIC Limited • Remuneration Committee determines the remuneration packages of individual executive directors and senior management including salaries, bonuses, benefits in kind, pension rights and compensation payments (including any compensation payable for loss or termination of office or appointment). The committee consists of three independent non-executive directors, Mr Anthony Francis Neoh (who serves as the chairman of the committee), Mr Francis Siu Wai Keung, Dr Xu Jinwu, and a non-executive director, Mr Liu Zhuyu. • Strategic Committee accommodates the strategic development of CITIC Limited and enhances its core competitiveness, makes and implements the development plan of CITIC Limited, improves the investment- related decision making procedures and procures well-advised and efficient decision making. The committee is chaired by Mr Zhu Hexin, the chairman of the board, and other members include an executive director, Mr Xi Guohua (being vice chairman and president of CITIC Limited), three non-executive directors, Mr Song Kangle, Ms Yu Yang and Mr Yang Xiaoping, and two independent non-executive directors, Mr Anthony Francis Neoh and Mr Shohei Harada. Mr Li Rucheng (being a former non-executive director of CITIC Limited) serves as a consultant to the committee. Management Committees • Executive Committee is the highest authority of the management of CITIC Limited accountable to the board. The functions and powers of the executive committee are: – to formulate CITIC Limited’s material strategic plans; – to formulate CITIC Limited’s annual material investment and financing plans (including reviewing material investment plans, feasibility studies, proposed disposals/divestments, mergers and acquisitions and other significant transactions of CITIC Limited); – to review CITIC Limited’s annual business plan and finance plans; – to review monthly reports of CITIC Limited, and to submit to the board before each month-end the monthly report for the previous month; – to manage and monitor CITIC Limited’s core activities; – to appoint and remove mid-level and above key personnel (other than personnel above the rank of assistant to general manager, and those appointed and removed by the board);