Articles of Association (Abstracts)

The Silk Road Fund Co., Ltd. (the Fund) is a limited liability company established in accordance with the Company Law of the People’s Republic of China.

The Fund gives priority to supporting the Initiative of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road (the Belt and Road Initiative).

To support the Belt and Road Initiative, the Fund invests in infrastructure, energy and resources , industrial cooperation and financial services projects. With a focus on financing major infrastructure and connectivity projects, the Fund prioritizes projects in the reserve of major BRI projects. Investing in equity, debt and other funds, the Fund can also work with international development organizations as well as domestic and overseas financial institutions to set up co-investment funds. The Fund also manages entrusted assets and commissions others to invest.

The Fund has a total capital of US$40 billion and RMB100 billion which shall be made in installments. The registered capital of the Fund is approximately RMB 360.18 billion.

Shareholders of the Fund shall exercise their rights and obligations as provided for in the Company Law of the People’s Republic of China. They are entitled to receiving returns derived from its assets, participating in its major decision-making, selecting members of the management and exercising other rights. They shall assume the liabilities of the Fund up to their respective subscribed contributions.

The Fund shall establish a board of directors consisting of 11 members. The Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People’s Bank of China, the State Administration of Foreign Exchange, China Investment Corporation, China Development Bank and Export-Import Bank of China each selects one director. In addition, one senior executive and one employee representative of the Fund are also directors. Names of the directors should be submitted to the State Council for records.

The board of directors shall include one chairperson, who shall be nominated by shareholders holding no less than 50% of the total equity and be appointed by the board of directors. The chairperson shall be the legal representative of the Fund.

The Fund shall establish a board of supervisors, which shall consist of 6 members, including supervisors representing shareholders and employees, respectively.  The board of supervisors shall include a chairman, who shall be elected by 50% or more of all supervisors. The number of supervisors representing employees shall account for no less than 1/3 of that of all supervisors.

The Fund shall establish the position of a president, who shall be nominated by shareholders holding 50% or more of the total equity and be appointed by the board of directors.

The Fund’s staff shall be recruited and managed in a market-oriented way and based on needs of the Fund’s business development. The Fund shall implement a performance-based remuneration scheme which is competitive in the market so as to attract high-caliber talent.