Meeting of Standing Committee of CBA Rural Cooperative Finance Committee was held on October 27, 2006 in Jiangxi. Nine members of the Standing Committee or their authorized representatives attended the meeting hosted by Yu Chengdong, Director of Office of Rural Cooperative Finance Committee. Liu Zhangjun, Executive Vice President of CBA also attended the meeting and made a speech.

The Meeting reviewed and approved of the Committee¡¯s proposal of electing new Director and Member of the Standing Committee. In accordance with Article 11 and Article 14 of Rules of CBA Rural Cooperative Finance Committee, suggested by Executive Vice President of CBA, Xiao Siru, President of Jiangxi Rural Credit Union was elected Director of the Committee, Luo Jidong, President of Guangdong Rural Credit Union was elected member of the Standing Committee. Yuan Mingjie, President of Chongqing Rural Credit Union ceased to be Director and member of the Committee as well as member of the Standing Committee, and Yin Sheping, former Deputy Secretary-General of CBA ceased to be member of the Committee and the Standing Committee.

Yu Chengdong made an introduction to achievements of the Committee and its plan in the future, stressing that the Committee shall function as a center of policy guidance, rights protection, information dissemination and services, as well as friend and home to every member. Focus of the Committee shall be placed on strengthening its functions and providing guidance over key issues in the industry.

Director Xiao Siru gave a more detailed layout of the Committee¡¯s work in the future. He expressed that, the Committee shall take active measures to work as representative of rural credit unions in the country, advocate their interest and try to create a fair market environment. Meanwhile, the Committee shall initiate communication with overseas counterparts.