According to the Regulations and Guidelines for Good Corporate Governance in State Enterprises, it is stipulated that the Board of Directors comprise a number of independent outside directors as its core members who are truly independent in their decision-making.

“Independence” means

   1       being independent in thinking, exercising judgment, decision-making, speaking and taking  action  freely, being ready to  object  to any actions of other directors or  those  of  the  management  in  case  of  disagreement  with them and being really able to bring  about  changes or   to  stop   any  inappropriate   operations ; and

   2        having no business relationship, expectation of benefits or any  other relationship with the management,  the  State Enterprise or  the  Supervisory  Ministry,  as  well  as  not  being  involved  in  any  conflict  of  interests,  either  directly   or  indirectly.