On September 29, 2022, the seventh meeting of the first board of directors of COVEC  was held at the Beijing headquarters of COVEC. The meeting followed the "Articles of Association" and the rules of procedure of the board of directors and successfully completed all the agenda.
The meeting heard the report on Ding Rongfu's resignation as the chairman of the supervisory board and the election of Li Ning as the chairman of the supervisory board, reviewed and approved issues such as the establishment of COVEC Banja Luka Branch, and formed a resolution of the board of directors.