Annual Report 2019

China Merchants China Direct Investments Limited Annual Report 2019 109 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2019 10. DIRECTORS’ EMOLUMENTS (CONTINUED) 2019 2018 US$ US$ Non-executive Directors (Note b): Mr. ZHANG Jian * — — Mr. ZHANG Rizhong — — Mr. KE Shifeng 30,822 30,645 30,822 30,645 Independent Non-executive Director and Chairman of the Audit Committee (Note b): Mr. TSANG Wah Kwong 35,960 35,751 Independent Non-executive Directors (Note b): Mr. LIU Baojie 30,822 30,645 Dr. LI Fang 30,822 30,645 61,644 61,290 Total 128,426 127,686 * The Director was appointed during the year 2018. # The Director resigned during the year 2018. Notes: (a) Mr. CHU Lap Lik, Victor and Ms. KAN Ka Yee, Elizabeth have indirect beneficial interests in the Investment Manager which entered into an Investment Management Agreement with the Company on 18 October 2018 and became effective on 1 January 2019 and is for a fixed term of three years. The details of the existing investment management agreement can be referred to the circular dated 8 November 2018. The amount of management fee paid or accrued to the Investment Manager is disclosed in note 29 to the consolidated financial statements. (b) The emoluments for Non-executive Director and Independent Non-executive Directors shown above were for their services as Directors of the Company. (c) There was no arrangement under which the above Directors waived or agreed to waive any remuneration during the both years. (d) There was no amount as inducement for the above Directors to join the Company and compensation for the loss of office as Directors in connection with the management of the affairs of the Group during the both years.