COSCO Holding Company Limited has announced that the Hong Kong Institute of Directors(HKIOD) has named its board of directors and chairman Wei Jiafu as recipients of the Directors of the Year Awards 2008 at a ceremony held Convention and Exhibition Centre.

The two China Cosco awards were in the category of Listed Companies for best board of directors and best executive director.

Chen Hongsheng,executive director and general mannger of China Cosco,represented the awards ceremony to receive the board of diretors'award.

He said:"China Cosco will seize the opportunity to set even higher benchmarks to imporove corporate governance.We would like to serve as a model for other companies around the world in our corporate governance structures."

Li Yunpeng,chairman of China Cosco's supervisory committee,represented chairman Dr Wei Jiafu at the awards ceremony,saying on his behalf:"It has long been my goal and the goal of the board of directors to build a first-class global enterprise."

Sponsored by HKIOD,the Diretors of the Year Awards 2008 scheme was co-organised by the Financial Services and Treasury Bureau,the Securitises&Futures Commission and the Hong Kong Exchanges and Clearing Limited(aka the Hong kong stock exchange).

It is an annual event for the business community that aims to endorse outstanding directors and promote good corporate governance.