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Board of Director Responsibilities – PRC Company Law
The board of directors is accountable to the shareholders' committee, and shall exercise the following powers:
1. being responsible for calling meetings of shareholders committee and presenting reports thereto;
2. implementing resolutions adopted by the shareholders' committee;
3. determining the company's operational plans and investment programs;
4. preparing annual financial budget plans and final accounting plans of the company;
5. preparing profit distribution plans and plans to cover company losses;
6. preparing plans for increasing or reducing registered capital of the company;
7. drafting plans for merger, division, change of corporate form or dissolution of the company;
8. determining the structure of the company's internal management;
9. appointing or removing the manager (general manager) of the company, appointing or removing, upon the general manager's recommendation, deputy managers of the company and the officer in charge of finance, and determining the remuneration for those officers;
10. formulating the basic management scheme of the company.
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