China National Petroleum Corp, the country's largest oil and gas producer, said on Monday that it had appointed five outside directors and established a board, as part of its long-term efforts to boost performance and check corruption.

Meng Jianmin, deputy chief of the State-owned Assets Supervision and Administration Commission, said during a conference on Friday that it was important for State-owned enterprises to form modern boards as it would improve the overall development quality of the companies.

"It helps to realize the transformation of the commission's management on SOEs. The new boards formed with both inside and outside directors will play a much better role in decision making of the company," Meng said.