Minsheng Bank restructures governance, abolishes board of supervisors

China Minsheng Banking Corporation Limited (CMBC) has received approval from the National Financial Regulatory Administration for its revised articles of association, effective September 23, 2025. This follows the resolution passed at the 2024 annual shareholders' meeting on June 26, 2025, to discontinue the board of supervisors. Consequently, the functions previously held by the board of supervisors and its specialized committees will now be assumed by the board of directors' audit committee.

As a direct result of these changes, the existing board of supervisors has been legally dissolved. All employee, shareholder, and external supervisors, including Weng Zhenjie, Wu Di, Lu Zhongnan, Li Yu, Long Ping, and Mao Bin, have ceased their duties. The bank's relevant governance documents, including the "Rules of Procedure for the Board of Supervisors Meeting" and other related policies, have been revoked, and all internal regulations concerning supervisors are no longer applicable.

The amendments to the articles of association, along with the updated "Rules of Procedure for Shareholder Meetings" and "Rules of Procedure for Board of Directors Meetings," are available on the Shanghai Stock Exchange website (www.sse.com.cn) and the bank’s official website (www.cmbc.com.cn). This strategic restructuring aims to streamline governance and enhance operational efficiency within the bank.