BOC Hong Kong (Holdings) Limited (the “Company”), together with Bank of China (Hong Kong) Limited (the “Bank”) and their subsidiaries, issued its updated Strategy and Budget Committee mandate. It outlines the Committee’s responsibility to develop and guide the Group’s medium- to long-term strategic plans, including formulating specific growth targets and presenting recommendations to the Board. The Committee is also tasked with overseeing the Group’s annual business plan and financial budget, monitoring performance against set objectives, and recommending major investment or capital expenditure decisions.

The document clarifies the Committee’s composition; membership comprises non-executive and executive directors with relevant skills and experience. Meeting frequency is set at a minimum of four times per year, in line with the formulation and review of strategic plans and budgets. The Committee has the authority to seek independent professional advice for its activities and is supported by senior management to ensure it receives complete and timely information.

Additional measures include establishing processes for reviewing strategic options, monitoring the Group’s performance against approved budgets, and ensuring effective reporting to the Board. The mandate also details annual performance appraisals, enabling regular assessment of the Committee’s composition, processes, and mandate effectiveness.