Hong Kong: China Resources Enterprise, Limited announced on March 8 the appointment of Mr. Chen Shulin, Mark, previously the Deputy Managing Director, as the new Managing Director of the Company. While Mr. Chen will oversee the Company’s overall business and implement its strategy, Mr. Song Lin retains his position as Chairman of the Company and will continue to be involved in strategic planning.

Mr. Song Lin, Chairman of the Company, said, “We are pleased to announce the appointment of a new managing director as our commitment towards high corporate governance standards. I have worked with Mark for many years within the Group. He has strong commercial background and extensive experience in business development, especially in expanding the mainland market. We are confident that he will continue to strengthen our business and lead the Company to greater success.” Mr. Chen Shulin, Mark, the newly appointed Managing Director, remarked, “I am honoured to take up this leading role in the Company. We will continue to carry out our retail-led distribution strategy with a priority on investing in the core consumer businesses. At the same time, the remaining non-core businesses will be gradually restructured or disposed. By allocating more resources to the core businesses and divesting from the non-core businesses, this will drive the overall development of the Company and derive higher value for our stakeholders. ”

China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange and is also traded on SEAQ International of the London Stock Exchange. It is also one of the constituent stocks of the Hang Seng Index in Hong Kong and Hang Seng London Reference Index. It is a conglomerate with emphasis on the distribution business in Hong Kong and the Chinese Mainland. The principal activities of the Group are retail, beverage, food processing and istribution, textile as well as petroleum and chemical distribution.

Mr. Chen Shulin, Mark, aged 50, has been an Executive Director since December 1998 and was appointed Deputy Managing Director of the Company in November 2001 prior to the new appointment. He is a Director and Vice President of China Resources (Holdings) Company Limited as well as a Director of China Resources National Corporation. Mr. Chen is currently also the Chairman of Ng Fung Hong Limited and China Resources Light Industries & Textiles (Holdings) Co., Ltd. Prior to joining China Resources (Holdings) Company Limited, Mr. Chen was a senior official in the MOFTEC (now known as the Ministry of Commerce) and a commercial attaché in Australia and New Zealand. He obtained his Bachelor's degree from Beijing Foreign Languages Institute, China and an MBA degree from Victoria University, New Zealand.

As at the date of this announcement, the executive directors of the Company are Mr. Song Lin (Chairman), Mr. Chen Shulin (Managing Director), Mr. Qiao Shibo (Deputy Managing Director), Mr. Yan Biao (Deputy Managing Director), Mr. Keung Chi Wang, Ralph (Deputy Managing Director), Mr. Lau Pak Shing, Mr. Wang Qun, Mr. Zhong Yi and Mr. Kwong Man Him. The non-executive directors are Mr. Jiang Wei and Mr. Xie Shengxi. The independent non-executive directors are Dr. Chan Po Fun, Peter, Mr. Houang Tai Ninh and Dr. Li Ka Cheung, Eric.

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