Meeting of the Risk Committee

A scheduled meeting of the Risk Committee was held at the Partnership’s office. The issues were discussed regarding the realized risks of the Partnership in 2019, as well as identification and assessment of production and non-production risks of the Partnership for 2020.

All members of the Committee reviewed the results of work on the realized and potential risks of the Partnership.

General Director of KCP LLP Qian Yalin required the following: first, each sector and department should increase their knowledge and competencies in risk management, approaching the issue from a strategic point of view, thoroughly implement actions to minimize risks, determine responsibility and terms for eliminating risks, and control the dynamics of minimizing risks. Second, it is necessary to distribute the main operations of operational activities throughout the year, together with the processes for setting priorities and identifying hidden risks. Third, it is necessary to increase the problem orientation and awareness of risks, develop critical thinking, effective prevention and elimination of the major risks, thereby ensuring the steady and stable development of the Partnership.

The result of the meeting was the unanimous adoption of issues with the further submission for approval to the Partnership Management Board, as well as approval of the Committee's Plan for 2020.