The board of directors of China New Economy Fund Limited announced that Mr. CHONG Ching Hoi has been appointed as an independent non-executive director as well as a member of each of the audit committee, nomination committee and the remuneration committee of the company with effect from 22 December 2017. Mr. Chong, is currently the Chief Financial Officer and Company Secretary of Hao Bai International (Cayman) Limited (HBIC). He has joined HBIC since March 2016 and is responsible for its compliance and corporate governance, preparing group's consolidated financial statements as well as reviewing and implementing effective financial policies and internal control procedures.