The tenth session of the fifth Board of Directors was held in Shanghai on March18, 2006. The meeting was presided by Chairman Gao Jianping, with the following fifteen proposals approved by the Board: Report on the Work of the Board of Directors in 2005, Report on the Work of the President in 2005, Report on the Evaluation of the Performance of Directors in 2005, Proposal on Change in Directors, Annual Report 2005, Final Financial Report 2005 and Financial Budget for 2006, Proposal on Profit Distribution for 2005, and Proposal on Engagement of Public Accountant Firms for 2006.