The seventh session of the Supervisory Board was held in Fuzhou on December 15, 2005. Chief Supervisor Huang Guangtong presided over the meeting. Participating supervisors reviewed and approved the Proposal on Mr. Xu Yimeng’s Resignation as Supervisor, listened to the Report on Financial Condition for the First Three Quarters of 2005 and Report on the Implementation of Credit Accountability System, and stipulated its Inspection Plan in 2006.