Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) has shared an update.

Chongqing Iron & Steel Co., Ltd. has formalised detailed work regulations for its Remuneration and Appraisal Committee under Chinese and Hong Kong securities and corporate governance rules. The committee is tasked with developing performance appraisal criteria and designing remuneration policies for directors and senior management, including the president, senior vice presidents, CFO, general counsel and the board secretary.

The regulations define the committee’s composition, requiring three to six directors with a majority of independent directors and an independent director serving as convener. They also clarify nomination and election procedures, terms of office, and the supporting role of the board secretary and office, which will handle data collection and meeting organisation, reinforcing transparency and board oversight in pay and performance decisions.

The convener of the Remuneration and Appraisal Committee is empowered to convene and chair meetings, report to the board and execute committee documents. By codifying these authorities and processes, the company aims to strengthen its corporate governance structure, align with regulatory expectations, and enhance accountability in the evaluation and compensation of key executives and directors.