CHINA RESOURCES LAND LIMITED (the “Company”) has introduced updated terms of reference for its Executive Committee to strengthen day-to-day operational oversight and decision-making effectiveness. According to the information disclosed, the Board established this Committee to handle key responsibilities such as approving major investment and disposal transactions under specified thresholds and overseeing important financing activities.

Under the revised framework, only executive directors serve on the Committee, which meets at least once a year. Resolutions can be passed either by physical vote or written resolution, and a quorum of three executive directors is required where meetings are held in person or via communication devices. The chairman can cast a tie-breaking vote when necessary.

The Committee has clear authority to investigate matters within its remit, solicit external professional advice, and approve investment, financing, and disposal projects of varying scales. Areas covered include property acquisitions, mergers and acquisitions, capital expenditures on existing properties, and the issuance of onshore and offshore bonds. Equity cooperation in investment projects, exit project buybacks, and asset impairment provisions also fall under its purview. In addition, it can authorize strategic cooperation agreements, large-scale investment property renovations, and financial guarantees and loans within stated risk parameters.

The updated terms of reference require the Committee’s decisions to be reported to the Board regularly, ensuring compliance with the governance processes set out by the Company and the Listing Rules of the Stock Exchange of Hong Kong Limited.