Hang Seng Bank Ltd. (the Bank) is engaged in providing banking and related financial services. It operates more than 210 service outlets, including 106 branches. The Company also maintains a branch in Shenzhen for foreign currency wholesale business, branches in Macau and Singapore, and representative offices in Xiamen and Taipei. The Company, through its wholly owned mainland China subsidiary, Hang Seng Bank (China) Limited, operates a network of 33 outlets in Beijing, Shanghai, Guangzhou, Shenzhen, Dongguan, Fuzhou, Nanjing, Hangzhou, Ningbo, Tianjin and Kunming. Hang Seng is a principal member of the HSBC Group, which is a banking and financial services organization. The parent and ultimate holding companies of the Bank are The Hongkong and Shanghai Banking Corporation Limited and HSBC Holdings plc, respectively. On December 31, 2008, the Bank acquired 20% of Yantai City Commercial Bank.