Annual Report 2012

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7 CORPORATE GOVERNANCE REPORT7.3 COMMITTEES UNDER THE BOARDThere are five committees established under the Board: the strategy development committee, audit committee, risk management committee,nomination and compensation committee and related party transactions committee. Among these committees, more than half of the members ofthe audit committee, nomination and compensation committee and related party transactions committee are independent non-executive directors.Strategy development committeeThe strategy development committee consists of ten directors. Mr. Wang Hongzhang, currently serves as chairman of the strategy developmentcommittee. Members include Mr. Wang Yong, Mr. Zhu Zhenmin, Mr. Yam Chi Kwong, Joseph, Ms. Li Xiaoling, Rt Hon Dame Jenny Shipley, Mr.Zhang Jianguo, Ms. Chen Yuanling, Ms. Elaine La Roche and Mr. Dong Shi.The primary responsibilities of the strategy development committee include:• drafting strategic development plans, supervising and assessing implementation thereof;• reviewing annual operational plans and fixed assets investment budgets;• reviewing the implementation of the annual operational plans and fixed assets investment budgets;• evaluating the coordinated development of various businesses;• reviewing material restructuring and re-organisation plans; and• reviewing significant investment and financing projects.In 2012, the strategy development committee convened four meetings in total, researching on the macroeconomic and financial situation andsignificant strategy issues, grasping the correct development direction, propelling business structure adjustments, speeding up the developmentof the strategic business and overseas business, reinforcing the capital management and risk control, strengthening the fundamentalconstructions related to customers, products and channels, and consolidating the foundation for business development.Members of strategy development committeeNumber of meetingsattended in person/Number of meetingsduring term of officeNumber of meetingsattended by proxy/Number of meetingsduring term of office Attendance rate (%)Mr. Wang Hongzhang 4/4 0/4 100Mr. Wang Yong 4/4 0/4 100Mr. Zhu Zhenmin 4/4 0/4 100Mr. Yam Chi Kwong, Joseph 4/4 0/4 100Ms. Li Xiaoling 4/4 0/4 100Rt Hon Dame Jenny Shipley 3/4 1/4 100Mr. Zhang Jianguo 3/4 1/4 100Ms. Chen Yuanling 4/4 0/4 100Ms. Elaine La Roche 1/1 0/1 100Mr. Dong Shi 4/4 0/4 100Resigned membersMr. Chen Zuofu 2/2 0/2 100Mr. Zhu Xiaohuang 1/2 1/2 100Mr. Lu Xiaoma 3/3 0/3 100Lord Peter Levene 1/1 0/1 100In 2013, the strategy development committee will continue to adhere to comprehensive, multi-functional and intensive development philosophyand continue to promote strategic transformation and structural adjustments. It will also refine operational management mechanism, activelypromote fee-based business, strategic business and emerging business, promote the sound and rapid development of overseas business,strengthen the technological support, and speed up product innovation and process optimisation to continuously improve the integratedcompetitiveness and sustainable development ability of the Bank.China Construction Bank Corporation annual report 201261
7 CORPORATE GOVERNANCE REPORTAudit committeeThe audit committee consists of six directors. Mr. Wong Kai-Man currently serves as chairman of the audit committee. Members include Ms.Li Xiaoling, Rt Hon Dame Jenny Shipley, Ms. Elaine La Roche, Mr. Zhao Xijun and Mr. Dong Shi. The composition of the members of the auditcommittee is in compliance with the domestic and overseas regulatory requirements.The primary responsibilities of the audit committee include:• monitoring the financial report, reviewing the disclosure of accounting information and significant events;• monitoring and assessing the internal controls;• monitoring and assessing the internal auditing work;• monitoring and assessing the external auditing work;• paying attention to potential misconducts;• reporting work to the Board, reporting to the Board the issues within the scope of functions and duties of the committee, decisions orsuggestions, and maintaining communication and cooperation with other special committees;• other duties and powers authorised by the Board.In 2012, the audit committee convened seven meetings in total, reviewing the financial reports for 2011, the first half of 2012, and the first andthird quarter of 2012. The audit committee actively pushed forward the implementation and assessment of enterprise internal control standards,and tracked the rectification against audit findings by internal and external audits. The audit committee reviewed the internal audit working plan,and monitored and assessed the internal audit periodically. The audit committee seriously monitored and evaluated the external audit work, andreviewed the working plan for periodic financial report audit and the audit results, and urged the external auditors to issue audit report on time.Pursuant to requirements by the CSRC and the annual report working rules of the audit committee, the audit committee reviewed the financialreport of the Bank, and communicated and discussed with the management as to the major accounting policies and accounting estimatesand formed written opinions. The audit committee reviewed the Bank’s financial report again in respect to the initial audit opinions given bythe external auditors, communicated with the management and external auditors, discussed matters such as the accounting standards andmethods adopted in the financial statements, internal monitoring and financial report, and urged the auditors to submit the summary audit reportto the Board. The audit committee reviewed and approved the 2012 financial report of the Bank, and submitted the proposal to the Board forconsideration.Members of audit committeeNumber of meetingsattended in person/Number of meetingsduring term of officeNumber of meetingsattended by proxy/Number of meetingsduring term of office Attendance rate (%)Mr. Wong Kai-Man 7/7 0/7 100Ms. Li Xiaoling 7/7 0/7 100Rt Hon Dame Jenny Shipley 6/7 1/7 100Ms. Elaine La Roche 2/2 0/2 100Mr. Zhao Xijun 7/7 0/7 100Mr. Dong Shi 7/7 0/7 100In 2013, the audit committee will deepen the monitoring of the regular financial reports, push forward the implementation and assessment ofenterprise internal control standards, supervise and evaluate the internal and external audits, improve the effectiveness of communication andcooperation between internal and external auditors, and cooperate with external regulations.62 China Construction Bank Corporation annual report 2012
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Annual Report 2012China Constructio
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DEFINITIONSIn this annual report, u
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INTRODUCTIONHeadquartered in Beijin
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2 CORPORATE INFORMATIONLegal name a
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2 CORPORATE INFORMATIONForbes Ranke
Page 11 and 12: 3 CHAIRMAN’S STATEMENTDear shareh
Page 13 and 14: 4 PRESIDENT’S REPORTDear sharehol
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14 UNAUDITED SUPPLEMENTARY FINANCIA
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15 ORGANISATIONAL STRUCTUREPublic R
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16 BRANCHES AND SUBSIDIARIESTier-on
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16 BRANCHES AND SUBSIDIARIESChongqi
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16 BRANCHES AND SUBSIDIARIESZhejian
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