As an important step of the joint-stock reform, the Bank set up the General Meeting of Shareholders, the Board of Directors and the Board of Supervisors while also appointing the Senior Management. This was done in accordance with the Company Law and other laws and regulations along with the decisions of the State Council on the joint-stock reform of commercial banks, and with full reference to the successful practice of corporate governance of internationally leading banks. After the incorporation of the joint-stock company, the General Meeting of Shareholders, the Board of Directors, the Board of Supervisors and the Senior Management have improved the corporate governance system and related working rules of the Bank. They've also defined powers, functions and authorities of main corporate governance bodies, and guaranteed fulfillment of responsibilities and diligent performance by all sides in strict compliance with applicable laws and regulations of the Articles of Association of the Bank. They have shaped step-by-step a successful modern corporate governance system of a modern commercial bank, a system characterized by independent operation, close cooperation, mutual check and balance, and effective supervision.