Hang Seng Bank and Bank of East Asia are amongst the first banks in Hong Kong to set up sub-branches in Foshan under the new Sixth Supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). The new supplement to CEPA, which came into effect on October 2009, now allows banks in Hong Kong to set up sub-branches within the Guangdong province in any municipality without the need to first establish a branch in the same municipality.