The meeting (the “Meeting”) of the board of directors (the “Board”) of China Construction Bank Corporation (the “Bank”) was held onsite on 23 October 2014 in Beijing.

It was resolved at the Meeting that the subsidiary license of China Construction Bank (Dubai) Limited (the “CCB Dubai”) be converted into a branch license, that the Dubai Branch would fully take over the business operation of CCB Dubai, that the Bank would change the registered capital of US$100 million of CCB Dubai to the working capital of the Dubai Branch, and that the senior management be authorized to deal with the specific matters in respect of the  establishment of the Dubai Branch and the cancellation of the subsidiary license of CCB Dubai.

Source of information: www.ccb.com