CIMC Tightens Governance Over Connected Transactions Under New Management System
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China International Marine Containers (Group) Co., Ltd. has implemented a new management system for connected transactions to safeguard the rights of the company and its shareholders. This system, compliant with Chinese laws and stock exchange regulations, emphasizes good faith, fairness, and transparency. It delineates responsibilities for overseeing transactions, mandates written agreements, and enforces abstention from voting by connected parties. The stricter disclosure and approval standards from either mainland China or Hong Kong will apply, enhancing governance and transparency for stakeholders.
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