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On the afternoon of May 7, SIG held 2020 Collective Consultation Meeting to discuss employees' participation in a mutual support insurance program. Liu Xinyi, Chief Consultative Representative of the Employer and President of SIG; and Ma Haiyan, Chief Consultative Representative of the Employee and Chairwoman of the Labor Union of SIG jointly hosted the meeting. Guan Wei, Vice President and Chief Finance Officer of SIG; Chen Zhenpeng, Member of the CPC SIG Committee; and the consultative representatives of both sides attended the meeting. Also present was relevant staff of the Human Resources Department of SIG.

The attendees listened to the Proposal on Employees of Shanghai International Group Participating in 2020 Shanghai Worker Mutual Support Insurance Program. Upon consultation, the two sides approved SIG's employees to participate in the program by agreement.

Liu noted that collective consultation is an important exchange platform between enterprises and employees, as well as an important way and form of safeguarding employees' lawful rights and interests, and promoting the healthy development of enterprises. SIG's participation in the 2020 municipal worker mutual support insurance program is a strong supplement to the basic medical insurance system that will build a "second defensive line" against medical and accident risks for employees. Premium cost will be shared by the administrative department, the labor union and employees in principle as required by the Shanghai Federation of Trade Unions. Participating in program in the special period of epidemic prevention and control is of positive significance to safeguarding employees' life safety and health rights and interests, and accomplishing enterprise-employee co-building, co-governance and sharing.

The employee mutual support insurance program has a bearing on all employees' immediate rights and interests, and can further protect SIG's employees from diseases and accident risks. It shows SIG's concern and care for employees' physical and mental health. Afterwards the Labor Union of SIG will strengthen guidance to SIG's subsidiaries in getting insured and renewing insurance in light of actualities, serve employee security payment, improve facilitation and standardization, and do the good work concretely, to constantly enhance the sense of gain and satisfaction of SIG's employees, said Ma.

The meeting required that the SIG headquarters should purchase insurance for all employees after performing democratic procedures. SIG's subsidiaries should, according to respective circumstances, independently arrange funds for employees to participate in the municipal worker mutual support insurance program, and perform corresponding democratic procedures as required.