Pursuant to the Company Law, Insurance Law, Securities Law and other applicable laws and regulations as well as the requirements of domestic and overseas regulatory authorities, the Company has established and improved the corporate governance system consisting of the shareholders’ general meeting, the Board, the Board of supervisors and the senior management, and formed an operation mechanism under which the corporate authorities, decision-making organs, supervisory organs and executive organs support and coordinate with each other with appropriate checks and balances. The company formulated the Articles of Association of New China Life Insurance Company Ltd., the Rules of Procedure for the General Meeting of New China Life Insurance Company Ltd., the Rules of Procedure for the Board of Directors of New China Life Insurance Company Ltd., the Rules of Procedure for the Board of Supervisors of New China Life Insurance Company Ltd., in accordance with relevant laws and regulations. The general meeting, board of directors and board of supervisors function in accordance with Articles of Association and relevant rules of procedure. The company improved the independent directors system. There are 4 independent directors among 10 directors. The 4 independent directors assume the post of member of a committee or chairperson of a committee. The Company set up Strategy Committee, Investment Committee, Audit and Related Party Transaction Control Committee, Nomination and Remuneration Committee and Risk Management and Consumer Rights Protection Committee to help the Board fulfill its obligations.