Bank of Tianjin Co., Ltd. (the “Company”) has announced updated Terms of Reference for its Nomination and Remuneration Committee, aiming to standardize the selection process for directors and senior management, refine incentive and control mechanisms, and strengthen corporate governance. The document references various laws and guidelines within the People’s Republic of China and outlines the Company’s commitment to improving decision-making efficiency under the Board of Directors.

The revised Terms specify that the Nomination and Remuneration Committee must consist of three or more directors, with a majority being independent directors. The chairman is also required to be an independent director. Key responsibilities include developing procedures for director and senior management appointments, reviewing candidate qualifications, formulating remuneration and assessment programs, and providing recommendations to the Board of Directors. The Terms highlight that members of the committee are expected to participate conscientiously in its work, and strict processes are in place to ensure unbiased advice and transparent evaluation of candidates.

According to the announcement, the newly issued Terms of Reference become effective upon their approval by the Board of Directors. As of that date, the previous Terms of Reference stand repealed. The Company emphasizes that the Chinese version of the document prevails in the event of any discrepancies between the Chinese and English texts.