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On August 9, the issue of "directors and supervisors receiving high conference allowances" at Guangdong Huaxing Bank attracted widespread attention. The reason was that the bank disclosed the conference subsidy standards in detail in its annual report. Calculations showed that "directors and supervisors who attend all board meetings and special committees throughout the year will receive up to 360,000 yuan in conference subsidies."

Guangdong Huaxing Bank responded to Caixin that the participation subsidy is only for independent directors, and it is impossible for independent directors to participate in every category of special committee of the board of directors.

According to incomplete statistics from announcements of listed companies, China Business News reported that most companies use an actual reimbursement method for travel expenses incurred by independent directors for attending company board meetings, shareholders' meetings, etc. China Everbright Bank also previously adopted a similar form of meeting subsidies, but this year it has also adjusted to actual reimbursement.

The maximum subsidy for attending the conference is RMB 15,000 per time.

Guangdong Huaxing Bank was established in August 2011 as a mixed-ownership commercial bank with a registered capital of RMB 8 billion and its headquarters is located in Shantou.

The 2023 annual report shows that the remuneration of directors and supervisors of Guangdong Huaxing Bank consists of basic allowances, due diligence allowances and meeting subsidies. The due diligence allowances of equity directors and shareholder supervisors are 5,000 yuan per month; the basic allowances of independent directors and external supervisors are 5,000 yuan per month, and the due diligence allowances are 5,000 yuan per month.

The standards for meeting subsidies are as follows: RMB 10,000 per person per time for attending the shareholders' meeting, RMB 15,000 per person per time for attending the board of directors/board of supervisors meeting, RMB 5,000 per person per time for attending the special committee meeting of the board of directors/board of supervisors, RMB 5,000 per person per time for attending the board of directors/board of supervisors postal voting meeting, and RMB 2,000 per person per time for attending the committee postal voting meeting; RMB 5,000 per person per time for supervisors to attend the board of directors' meeting.