On June.7th , Organization Department of CPC Shanghai Committee held the meeting to announce the decision by CPC Shanghai Committee about the SIG’s leadership rearrangement. Mr. Ying Yong, minister of Organization Department of CPC Shanghai Committee attended the meeting. Also present at the meeting were leaders from Organization Department of CPC Shanghai Committee, from CPC committee of Shanghai Financial Industry, SIG’s management team, major department and company general managers from SIG’s subsidiaries and departments.

The meeting was hosted by Mr. Pan Zhichun, secretary of the CPC committee of Shanghai Financial Industry. Mr. Feng Wei, secretary of Organization Department of CPC Shanghai Committee, announced the decision of CPC committee of Shanghai, which appointed Mr. Shen Jun as Chairman and Secretary of the CPC committee of SIG, as a replacement of Mr. Ji Xiaohui.

Mr. Ji Xiaohui made an engaging speech. He expressed his support for the decision of the Municipal CPC Committee, and will do his best to help Mr. Shen Jun in the takeover process. He expressed his gratitude for all the support, understanding and care from the municipal government, the municipal CPC committee, the Financial Services Office of Shanghai and from all the management team members and colleagues during his 6 years tenure in SIG. He said the 6 years tenure in SIG is an unforgettable period in his career life, with the support from the management team and with the efforts of all the colleagues of SIG, the group had experienced rapid and healthy development. And he believes that SIG will have make enormous strides under the leadership of Mr. Shen Jun and will make more remarkable contributions to the development of Shanghai and turn itself into a leading force in the international financial center of Shanghai.

Mr. Shao Yaliang expressed the support for the decision of CPC Committee of Shanghai, and welcome to Mr. Shen Jun on behalf of the management team of SIG. He also expressed his sincere gratitude to and respect for Mr. Ji Xiaohui for his contributions to SIG. He said, the appointment of Mr. Shen Jun as chairman of SIG showed that the CPC Committee of Shanghai attaches great importance to SIG’s development, and is a promotion of SIG’s management team. The appointment will instill in SIG new ideas, new thinkings and new hopes. Together with the management team, he will do his utmost to support Mr. Shen Jun in implementing the decision of CPC Committee, furthering the exploration of comprehensive financial operation and the market-oriented reform of SIG, and enhancing the core competence of the group to push forward the development of SIG in a steady, rapid and sustainable way.

Mr. Shen Jun noted that SIG has made remarkable contributions to the economic and social development of Shanghai. With the exploration led by Mr. Ji Xiaohui, SIG has scored important periodic achievements in recent years. SIG has played its role as the state-owned financial vehicle, leveraged stated-owned capital and attained the target as the financial service provider to the industry. The CPC organization of all levels in SIG has acted as the political core force and has done a great job in the party building process. Like other SOEs, SIG also faces challenges and problems. We are required to keep pace with the time and solve the problems to accelerate further enhancement. SIG has a solid foundation which provides favorable conditions to attain a new commanding height. SIG’s business operation should abide by the strategic planning of the Municipal CPC committee and Municipal Government. The appointment of him as Chairman shows the trust and commitment by CPC Committee of Shanghai. It is a great challenge for him to work in a financial institution as it is a position different from his previous job in the government agency. He said he will first and foremost do research and investigation of the group, learn the business operation and mechanism of SIG’s subsidiaries. And secondly, he will make an in-depth study of financial knowledge and practices, in respect of which he needs to count on help from all the colleagues. Thirdly, the large army of able, virtuous and talented personnel in SIG is the precious wealth of SIG, and he will seek to be on familiar terms with the managers and executives at all levels of SIG, thus making the communication more effective and bringing all efforts into full play. Mr. Shen also said, development is vital in doing everything. He wished that everyone will make exerted efforts to abide by the annual plan to maintain the well developing trend. He states that the capability of a single person is limited, but he’s confident that he will handle the job well with joint efforts of the management team and all the colleagues.

Mr. Ying Yong made the important concluding speech. He said the decision to appoint the new chairman of SIG was a prudent and prudential consideration after collective consultation and necessary research. SIG has made significant contributions to the building of the international financial center of Shanghai in recent years. With the leadership of the management team including Mr. Ji Xiaohui and the efforts of all colleagues, SIG has attained periodic target by maintaining continuous sustainable growth in its profit and asset under management. Mr. Ying Yong also stated that Mr. Ji Xiaohui showed his charisma and excellent capability in financial business operation and risk management. He is opened-minded and self-disciplined and has gained high prestige. The CPC Committee and the Municipal Government of Shanghai are very satisfied with his work in SIG and the colleagues in SIG also give positive evaluation for him. His support for the decision of the Party Committee also showed his great personality and quality. The appointment of Mr. Sheng Jun as chairman of SIG has got approval from the Organization Department of the CPC Central committee. Mr. Shen is the former vice mayor in the municipal government of Shanghai. He’s an experienced leader and coordinator with excellent practical experience on the macro level. The CPC Committee of Shanghai considers him a match for the chairman position of SIG. We wish he could further promote the business of SIG together with other members of the management team according to the plan and deployment of the Municipal CPC Committee and Municipal Government. On behalf of the Municipal CPC Committee, Ying Yong proposed three wishes to SIG. Firstly, all the members of the management team and head of departments should support the decision of the Municipal CPC Committee and ensure the smooth transition by working prudently and from a macro perspective. Secondly, the management team should work harmoniously, listen to the comments, seek after advice widely and make prudent decision on important issues of the company. The corporate governance should be further improved to form an effective and efficient governance mechanism. Thirdly, the party building of the company should be enhanced to form an energetic organization, the management of executives and talents should obey the guidance and abide by the decision of the Municipal CPC Committee, thus to ensure the implementation of the planning and decision of the Municipal CPC Committee in SIG. The executives and mid-level managers should remember their missions and work conscientiously for further achievements.