Annual Financial Report - 38 of 38

© Copyright HSBC Holdings plc 2010

All rights reserved

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Holdings plc.

Published by Group Finance, HSBC Holdings plc, London

Cover designed by Black Sun Plc, London; text pages designed by Group Communications (Asia), The Hongkong and Shanghai Banking Corporation Limited, Hong Kong

Printed by Park Communications Limited, London, on Revive Pure White Offset paper using vegetable oil-based inks. Made in Austria, the paper comprises 100% de-inked post-consumer waste. Pulps used are totally chlorine-free.

The FSC logo identifies products which contain wood from well-managed forests certified in accordance with the rules of the Forest Stewardship Council.

Cover

HSBC's new China headquarters building (front cover, centre) on the River Huangpu in Pudong, Shanghai, is due to open in mid-2010.

Photography: Mike Abrahams

Group Chairman

Photography: Eddie Chan Wai Hing