On December 10, CZBANK announced plans to dissolve its Board of Supervisors and amend its articles of association. In accordance with China's Company Law and relevant regulatory requirements, the bank intends to transfer the supervisory functions to its Board of Directors' Audit Committee while establishing employee directors within the board.
Existing regulations governing the Board of Supervisors will be repealed, with the new adjustments taking effect after approval at the shareholders' meeting.
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