Summary by Moomoo AI
China Railway Corporation Limited (CRCL) released the revised "Independent Director Management Regulations" on June 28, 2024, which was approved at the 2023 annual shareholder meeting. The revision aims to further improve the company's governance structure, promote standardized operations, and ensure that independent directors can effectively fulfill their duties. The new regulations clearly define the qualifications, election, and replacement procedures, responsibilities and performance methods, as well as rights and obligations of independent directors. In addition, the company ensures that independent directors have the same level of access to information as other directors and provides necessary working conditions and personnel support. The standard of allowances for independent directors will be formulated by the board of directors and approved by the shareholders' meeting, and disclosed in the annual report. The company may also establish an independent director liability insurance system to reduce performance risks.