Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 60 CORPORATE GOVERNANCE REPORT (CONTINUED) TRAINING AND SUPPORT FOR DIRECTORS (CONTINUED) Notes: a: attending training courses, in-house briefings, seminars, conferences, or forums b: giving talks at seminars, conferences, or forums c: reading newspapers, journals and updates relating to the economy, general business, investment, or director’s duties and responsibility, etc. DIRECTORS’ SECURITIES TRANSACTIONS The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “ Model Code ”) set out in Appendix 10 to the Listing Rules as the code of conduct regarding securities transactions by the Directors and relevant employees of the Company. Having made specific enquiry to all Directors, the Company confirms that all Directors have complied with the Model Code throughout the year under review. REMUNERATION OF DIRECTORS The Company has no salaried employees, except the qualified accountant whose remuneration package is determined and borne by the Investment Manager. The Company has applied for and The Stock Exchange of Hong Kong Limited has granted a waiver to the Company for establishment of remuneration committee on condition that the Executive Directors and senior management of the Company will not receive any Directors’ fee or emolument from the Company. Thus, no remuneration committee has been established by the Company. The remuneration of the Directors is determined by the shareholders at the AGM of the Company. At the AGM of the Company held on 28 May 2020, it was resolved that the remuneration of the Directors for the year ended 31 December 2020 be fixed by the Board. All the Executive Directors did not receive any remuneration from the Company for the year ended 31 December 2020 (2019: Nil). The total remuneration payable to other Directors for the year ended 31 December 2020 is disclosed in note 10 to the consolidated financial statements. AUDITOR’S REMUNERATION The Company has appointed Deloitte Touche Tohmatsu as the Company’s independent auditor. During the year under review, the fees paid or payable to the Company’s independent auditor for audit services provided is US$151,020 and for non-audit services provided is US$86,192 which was mainly for the purposes of advising on the Company’s environmental, social and governance reporting, and reviewing the Company’s interim financial report for the year 2020 and internal control systems.