CITIC Limited Half-Year Report 2020

138 Half-Year Report 2020 CITIC Limited • Asset and Liability Management Committee (the “ALCO”) has been established as a sub-committee under the executive committee to be in charge of monitoring and controlling the financial risks of CITIC Limited. The principal responsibilities of the ALCO are to – monitor and control the asset and liability financial position of CITIC Limited on a regular basis; – monitor and control the asset and liability structure, counterparties, currencies, interest rates, commodities, and commitments and contingent liabilities of CITIC Limited; – review financing plans and manages the cash flow of CITIC Limited on the basis of the annual budget; and – establish hedging policies and approves the use of new financial instruments for hedging. The acting chairman of the committee is Mr Cao Guoqiang (being Chief Financial Officer of CITIC Limited), and other members of the ALCO include responsible persons of the financial control department, treasury department, strategic development department, the office of the board of directors and legal and compliance functions. Compliance with Corporate Governance Code CITIC Limited has applied the principles and complied with all the code provisions of the corporate governance code as set out in Appendix 14 to the Listing Rules during the six months ended 30 June 2020. Review of Half-Year Report The audit and risk management committee of the board reviewed the Half-Year Report in conjunction with the management and CITIC Limited’s external auditor and recommended its adoption by the board. The interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 “Interim Financial Reporting”. It has been reviewed by CITIC Limited’s independent auditor, PricewaterhouseCoopers, in accordance with Hong Kong Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. Compliance with the Model Code for Securities Transactions by Directors CITIC Limited has adopted the Model Code for Securities Transactions by Directors of Listed Companies (the “Model Code”) contained in Appendix 10 to the Listing Rules. All directors complied with the required standard set out in the Model Code throughout the six months ended 30 June 2020.