Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 57 CORPORATE GOVERNANCE REPORT (CONTINUED) BOARD OF DIRECTORS (CONTINUED) Nomination Committee and Nomination Policy (continued) During the year under review, the Nomination Committee has resolved to recommend the appointment of Ms. KAN Ka Yee, Elizabeth as Executive Director of the Company, Mr. CHU Lap Lik, Victor as Alternate Director of the Company and Dr. GONG Shaolin as Independent Non-executive Director of the Company, respectively; and to recommend the renewal of appointment of Mr. ZHANG Rizhong as Non-executive Director of the Company, Mr. WANG Xiaoding as Executive Director of the Company and Dr. LI Fang as Independent Non-executive Director of the Company, respectively. It has also reviewed the structure, size and composition of the Board in a meeting. The attendance of individual members of the Nomination Committee is as follows: Attendance/ number of meetings Mr. ZHANG Jian * (Chairman of the Nomination Committee) 2/2 Mr. TSANG Wah Kwong** 2/2 Dr. LI Fang** 2/2 * Non-executive Director ** Independent Non-executive Directors According to the Articles of Association of the Company, any Directors appointed by the Board shall hold office only until the next following AGM or until the next following general meeting of the Company in the case of filling a casual vacancy, and shall then be eligible for re-election. Investment Committee The Board has established an Investment Committee, of which currently has four members, to approve transactions (investments or realisations) of over US$20 million each (effective from 5 February 2010) and to supervise the day-to- day management functions of the Investment Manager. Currently, the Committee members include two Executive Directors and two Non-executive Directors. During the year under review, the Investment Committee has considered and approved the proposal relating to recall of the loan to Rong Bao Zhai Culture Co., Ltd. and the proposal relating to delay payment of interest by Qinghai Provincial Qinghai Lake Tourism Group Co., Ltd.