One of the HKEX’s Directors is appointed as a member of the FRC. HKEX plays an active and leading role in setting and articulating corporate governance standards in the marketplace so as to secure market confidence and protect investors. The Stock Exchange of Hong Kong Limited (SEHK), a wholly owned subsidiary of HKEX, conducts regular review of the corporate governance practices of the companies listed in Hong Kong for the purpose of determining the effectiveness of the implementation of the Corporate Governance Code in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (Listing Rules).