The Development and Construction Management Committee of Shanghai Changxing Island (hereinafter “the Management Committee”) is an institution established by Shanghai Municipal People’s Government to (a) accommodate and research the major matters and major issues in connection with the development and construction of Changxing Island; and (b) coordinate and organize relevant departments and units to implement the development and construction of Changxing Island. The Development and Construction Management Committee Office of Shanghai Changxing Island (hereinafter “the Management Committee Office”) is the administrative body of the Management Committee to assume the daily work of the Management Committee such as: (a) be responsible for the organization and implementation of the development strategy, development scheme and plan of the development and construction of Changxing Island; (b) draft the overall land utilization scheme as well as the land storage plan and project in respect of Changxing Island; (c) upon the delegation by relevant administrative authority, be in charge of the examination and approval of such projects as investment, development and construction and the like; (d) coordinate the use and management of the development and construction funds of Changxing Island; and (d) coordinate with relevant administrative authority to administrate the development and construction of Changxing Island.