Current member:
On May 9, 2007, the China Securities Regulatory Commission held the inaugural meeting of the Ninth Issuance Review Committee. At the meeting, Assistant President Yao Gang read out the decision of China Securities Regulatory Commission on the appointment of members of the Ninth Issuance Review Committee, and Vice Chairman Gui Minjie issued letters of appointment for members of the Ninth Issuance Review Committee. All members of the Independent Electoral Commission signed the letter of commitment.
All members of the Ninth Independent Electoral Commission are new members. Due to the reason that the share-trading reform stopped issuing new shares, all members of the seventh IEC were appointed as members of the eighth IEC. After the new and old members were handed over in May last year, the members of the Eighth IEC worked until the end of April this year, maintaining a working time of one year. In view of the fact that the term of office of the eighth member is more than two years, the last member will not be re-elected at the ninth session of the IEC.
The selection of members of the Ninth IEC was conducted in accordance with conditions and strict procedures. According to the change plan of the IEC, 65 candidates for IEC members are recommended by China Institute of Certified Public Accountants, all china lawyers association, China Assets Appraisal Association, universities and relevant state ministries. On the basis of online publicity and soliciting opinions from relevant regulatory authorities, it is nominated by the Nomination Committee of the Issuance Review Committee of China Securities Regulatory Commission and appointed by the Chairman's Office of China Securities Regulatory Commission.
The Ninth Independent Election Commission consists of 25 members. Among them, full-time members 17 (in the order of surname strokes): Wang Zhixiong, Bai Yanchun, Bai Wei, Lu Suyang, Sun Yong, Zhang Shenghuai, Lu Jun, Zheng Jianbiao, Jin Liming, Xu Shan, Guo Hongjun, Gao Xin, Liang Feng, Fu Binghui, Wen Jinghui, Han and Wei Xianfeng; Eight part-time members (in order of surname strokes): Bai,,, Chen Hong, Hu Baojian, and Guo Xudong.
In view of the new situation in the market after the share-trading reform, the composition of the members of the Ninth IEC has been adjusted accordingly. With the total number of members unchanged, full-time members have increased and part-time members have decreased accordingly. Full-time members increased from 13 in the previous session to 17. Specifically, the China Securities Regulatory Commission and the Stock Exchange have 5 members, including 3 part-time members and 2 full-time members. The number of full-time members outside the system of China Securities Regulatory Commission increased from 10 to 15, among which the number of certified public accountants increased from 5 to 9, and the number of lawyers remained at 5. In addition, 1 appraiser members were added. The number of part-time members outside the system of the CSRC has been reduced from 10 to 5, consisting of the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission, universities (each 1 person) and fund management companies (2 persons).
From May 2006 to the end of April 2007, the eighth audit committee held 136 audit committee meetings, among which 242 companies were audited, 203 companies passed the audit committee meeting, with a passing rate of 85.29%, and 35 companies failed the audit committee meeting, with a rejection rate of14.7/kloc-0. Full-time members of the audit committee attended 63 audit committee meetings on average, with an average of 9/kloc-0 audit companies.