METRO LAND CORPORATION LTD. is principally engaged in the development, sale and leasing of real estate, export and import business, the sale of commodities, the provision of tourism and catering services. The Company operates its businesses mainly in Beijing and Ningbo, Zhejiang province. The Company operates its real estate business through a Beijing-based residential building project, Ningbo-based residential building project and a Cixi-based residential building project. As of December 31, 2010, the Company had nine wholly owned subsidiaries, three partially owned subsidiaries and two associates. During the year ended December 31, 2010, the Company completed the purchase of 51% of the equity of Beijing Chenfeng Real Estate Development Co., Ltd. and 100% of the equity of Beijing Dazheng Hengli Construction and Engineering Co., Ltd., as well as the disposal of 100% of the equity of Fenghua Yintai Real Estate Co., Ltd. and Ningbo Yintai Department Store.