CITIC Limited Half-Year Report 2020

137 Half-Year Report 2020 CITIC Limited – to approve internal rules on day-to-day operations of CITIC Limited; – to review and approve proposals to establish and adjust CITIC Limited’s management and organizational structure; and – to discharge other powers and functions conferred on it by the board. The first three items and other matters within the authority of the board should be submitted for approval by the board, and thereafter implemented by the executive committee. The committee is chaired by Mr Zhu Hexin, the chairman of the board, and other members are Mr Xi Guohua (being executive director, vice chairman and president of CITIC Limited and also serves as vice chairman of the committee), Mr Ren Shengjun (appointed as vice chairman of the committee in place of Mr Cai Huaxiang with effect from 18 June 2020), Ms Li Qingping (being executive director and vice president of CITIC Limited), Mr Cui Jun, Mr Liu Zhengjun (being vice president of CITIC Limited) and Mr Xu Zuo (being vice president of CITIC Limited). Mr Cai Xiliang resigned as a member of the executive committee on 15 June 2020. • Strategy and Investment Management Committee has been established as a sub-committee under the executive committee to enhance strategy management, to prevent investment risks and to promote high quality development. The principal responsibilities of the strategy and investment management committee are to – study and draw up CITIC Limited’s integral development, medium and long-term development plan and industries investment guideline, approve development strategies and plans of subsidiaries; – establish a mechanism of empowered operation and management, organise and implement it; and – organise and implement full life-circle management of investment activities within the group. The committee is led by the chairman of the committee, Mr Xi Guohua (being executive director, vice chairman and president of CITIC Limited), vice chairmen of the committee, Mr Liu Zhengjun (being vice president of CITIC Limited) and Mr Xu Zuo (being vice president of CITIC Limited), and other members of the committee include Mr Zhang Youjun (being assistant president of CITIC Limited), responsible persons of the strategic development department, financial control department, legal and compliance functions and treasury department. Mr Cai Xiliang resigned as the vice chairman of the strategy and investment management committee on 15 June 2020.