1 Ping An China has always strictly complied with the Company Law of the People39s Republic of China Company Law and refers to global best practices to constantly improve corporate governance. According to the Company Law the Board of Directors of a jointstock limited company shall include Executive Directors NonExecutive Directors and Independent NonExecutive Directors. The proportion of independent directors shall not be less than onethird of the total number. Ping An39s Board has 15 seats including 5 Executive Directors 4 NonExecutive Directors and 6 Independent NonExecutive Directors. The proportion of Independent Directors is 40 which exceeds the requirements of the Company Law the Hong Kong Exchange HKEX and the Shanghai Stock Exchange SSE. The Board has four specialized Committees three of which are chaired by Independent NonExecutive Directors to fully guarantee the standardization and independence of the operation of the Board. Members of the Nomination and Remuneration Committee are all Independent Directors. The structure and operating procedures of Ping An39s Board is in line with China39s national strategies policies regulations and economy and ahead of China39s listed companies and insurance industry peers.2 According to the Company Law listing rules and regulatory requirements of the insurance industry in China the Company shall set up a Supervisory Committee. The key responsibility of the Supervisory Committee is to monitor the performance of Directors and senior executives. The inspection of the Supervisory Committee can effectively balance the power of the Board of Directors and safeguard the legitimate rights and interests of the Company and shareholders. Ping An was the first Company in China to introduce Independent Supervisors.3 Up to date Ping An has three female executives on Board for 20 representation which exceeds the requirements of HKEX.