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.