Bank of Chongqing : APPROVAL OF THE QUALIFICATION OF DIRECTORSHIP BY THE REGULATORY AUTHORITY

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BANK OF CHONGQING CO., LTD.*

重慶銀行股份有限公司*

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1963)

(Stock Code of Preference Shares: 4616)

ANNOUNCEMENT

APPROVAL OF THE QUALIFICATION OF DIRECTORSHIP

BY THE REGULATORY AUTHORITY

Reference is made to the announcement of Bank of Chongqing Co., Ltd.* (the "Bank") dated December 9, 2019 in respect of the poll results of the second extraordinary general meeting of 2019 of the Bank, in relation to (i) the approval of the appointment of Ms. LIU Ying as a non-executive director of the board of directors of the Bank (the "Board"), and (ii) the appointment of Dr. ZOU Hong, Mr. YUAN Xiaobin, Mr. LIU Xing, Mr. FUNG Don Hau and Mr. WANG Rong as independent non-executive directors of the Board. The qualification of directorship of such newly appointed directors is subject to the approval by Chongqing Bureau of China Banking and Insurance Regulatory Commission of the People's Republic of China (the "Chongqing CBIRC"), which is expected to be granted in batches.

On March 6, 2020, the Bank received the Approval of the Qualification of Ms. LIU Ying, Mr. LIU Xing and Mr. WANG Rong (Yu Yin Bao Jian Fu [2020] No. 23) from the Chongqing CBIRC, approving the qualification of Ms. LIU Ying for serving as a non-executive director of the Bank, and Mr. LIU Xing and Mr. WANG Rong for serving as independent non-executive directors of the Bank. The term of office of Ms. LIU Ying as a non-executive director of the Bank, and each of Mr. LIU Xing and Mr. WANG Rong as an independent non-executive director of the Bank became effective from the date of such approval (being March 3, 2020), and shall end upon the expiry of the Sixth Session of the Board.

The biographies of Ms. LIU Ying, Mr. LIU Xing and Mr. WONG Rong are as follows:

Ms. LIU Ying, aged 45, nominated by Chongqing Road & Bridge Co., Ltd., a shareholder of the

Bank, is currently the president of the general financial management department of Chongqing International Trust Inc. (重慶國際信託股份有限公司), director of Hefei Science & Technology Rural Commercial Bank Company Limited (合肥科技農村商業銀行), Yimin Asset Management Co., Ltd. (益民基金管理有限公司) and Chongqing Three Gorges Asset Management Co., Ltd. (重慶三峽資產管理有限公司). She served successively as deputy business manager, business

manager, deputy general manager and general manager of planning and finance department of Chongqing International Trust Inc. from August 2002 to April 2018.

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Ms. LIU is a shareholder director of Chongqing Road & Bridge Co., Ltd. (重慶路橋股份有限公司) (a listed company on the Shanghai Stock Exchange, stock code: 600106).

Ms. LIU obtained a bachelor's degree of economics from Dongbei University of Finance & Economics in July 1995. She is a senior accountant and certified public accountant.

Mr. LIU Xing (劉星), aged 63, is currently a professor and doctoral supervisor at the School of Economics and Business Administration of Chongqing University. Mr. Liu served as head of the Accounting Department of the School of Economics and Business Administration of Chongqing University from June 1993 to August 1998, dean of the School of Economics and Business Administration of Chongqing University from February 2005 to July 2017, and Chinese director of Chongqing University - Wharton Joint Financial Research Center from May 2012 to May 2018. He has been a president of Educational Panel of Accounting Society of China from July 2013 to June 2015, director of Finance and Accounting Research Center of Chongqing University since June 2012, expert of the review panel of the National Social Science Fund Project since November 2013, expert of the review panel of the National Natural Science Foundation Project since July 2014, and the deputy director of the Overseas Academic Exchange Committee of the Accounting Society of China since September 2017. Mr. Liu served as member of the 7th business administration discipline review panel of the Academic Degrees Committee of the State Council, member of the 5th steering committee for education of business administration degree of the Ministry of Education, and member of the 4th steering committee for education of business administration degree (accounting) of the Ministry of Education.

Mr. Liu is currently an independent director of Chongqing New Dazheng Property Group Co., Ltd. (重慶新大正物業集團股份有限公司) (a listed company on the SME Board of Shenzhen Stock

Exchange, Stock Code: 002968).

Mr. Liu graduated from Chongqing University in July 1983 with a bachelor's degree in engineering, graduated from Xi'an Jiaotong University in July 1990 with a master's degree in management, and graduated from Chongqing University in July 1997 with a doctorate degree in management. Mr. Liu is a non-practicing certified public accountant and an expert entitled to the special allowances awarded by the State Council.

Mr. WANG Rong (王榮), aged 63, is a senior economist. Mr. Wang served in the army before August 1994. He served as leader of the Discipline Inspection Commission in the Jiulongpo Branch of Chongqing Branch of the Agricultural Bank of China from August 1994 to October 1996. From October 1996 to March 2004, he served as director general and director of Jiulongpo Credit Cooperatives in Chongqing. From March 2004 to June 2008, he served as deputy director and party committee member of Association of Rural Credit Cooperatives in Chongqing. From June 2008 to April 2015, he served as vice president and party committee member of Chongqing Rural Commercial Bank Co., Ltd. From April 2015 to April 2016, he served as first-level senior manager of Chongqing Rural Commercial Bank Co., Ltd.

Mr. Wang graduated from Chongqing Municipal Party School with a bachelor's degree in finance in December 1998.

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With the effectiveness of the directorship of Mr. LIU Xing and Mr. WANG Rong, each of Mr. LI He and Mr. WANG Pengguo ceased to perform his duties as an independent non-executive director of the Bank from March 3, 2020. Each of Mr. LI He and Mr. WANG Pengguo has confirmed that he has no disagreement with the Board and that there is no matter in relation to his retirement that needs to be brought to the attention of the shareholders of the Bank. The Board would like to express its sincere gratitude to Mr. LI He and Mr. WANG Pengguo for their contributions to the Bank during their term of office with the Bank.

Mr. Kong Xiangbin and Dr. JIN Jingyu will continue to perform their duties as independent non-executive directors of the Bank prior to the approval of directorship qualification of Dr. ZOU Hong, Mr. YUAN Xiaobin and Mr. FUNG Don Hau by the Chongqing CBIRC. During the transitional period, Mr. KONG Xiaogbin will also serve as a member of each of the Connected Transactions Control Committee, Information Technology Guidance Committee and Consumer Protection Committee under the Board, and Dr. JIN Jingyu will also serve as a member of each of the Audit Committee, Information Technology Guidance Committee and Connected Transactions Control Committee and chair each of the Remuneration and Appraisal Committee and the Nomination Committee under the Board.

References is made to the announcements of the Bank dated December 20, 2018 and April 18, 2019 in respect of the Bank's non-compliance with Rule 3.10A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), which stipulates that the number of independent non-executive directors shall represent at least one-third of the board. As of the date of this announcement, the Bank continues to be in non-compliance with Rule 3.10A of the Listing Rules and will make further announcement upon the approval of directorship of new independent non-executive directors by the Chongqing CBIRC.

By order of the Board

Bank of Chongqing Co., Ltd.*

LIN JUN

Chairman

Chongqing, the PRC, March 9, 2020

As at the date of this announcement, the executive directors of the Bank are Ms. LIN Jun, Mr. RAN Hailing, Mr. LIU Jianhua and Mr. WONG Wah Sing; the non-executive directors of the Bank are Mr. WONG Hon Hing, Mr. DENG Yong, Mr. YANG Yusong, Mr. TANG Xiaodong, Mr. WU Heng and Ms. LIU Ying; and the independent non-executive directors of the Bank are Mr. LIU Xing, Mr. WANG Rong, Mr. KONG Xiaobin and Dr. JIN Jingyu.

• Bank of Chongqing Co., Ltd. is not an authorised institution within the meaning of the Banking Ordinance (Chapter 155 of Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong.

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