Tier 1 - Government Authorities
The president and the central bank's financial system are responsible for the management of sovereign wealth institutions, nominate and appoint board members and chairmen of sovereign wealth institutions; decide to increase or decrease foreign exchange surpluses and fiscal surpluses, and review the fund's financial reports
Tier 2 - Sovereign Wealth Funds
Establish and improve the corporate governance structure in accordance with the law, and have a highly independent board of directors. Non-executive directors, who are professionals outside the government sector, account for more than half of the board members. The board of directors is responsible for formulating the company's overall investment strategy and investment portfolio, and evaluating the performance of the board of directors. Special committees under the board of directors support the board to play a substantive role in auditing, risk management, remuneration and personnel appointments. The management is appointed by the board of directors and is responsible for the day-to-day business decisions of the company
Tier 3 - Portfolio Function or Subsidiary
It has established independent subsidiaries and established different special investment funds to invest in different fields. These subsidiaries have also established relatively standardized corporate governance structures, with relatively independent boards of directors and management.