In addition, at the end of last year, we completed migration to the Hyperconverged Infrastructure, for which we are currently seeing significant benefits, primarily high availability of the system, prompt deployment of critical security updates and a downward trend in electricity expenses. Leading to this event, we have also availed cloud communication technology with appropriate features for such meetings.
At end 2018, 11 Chinese banks have established 76 branches and subsidiaries in 28 countries along the Belt and Road and about 50 banks from 22 Belt and Road countries have business operations in China. They are providing a larger variety of financial products and services including credit, guarantee, bond underwriting, merger and acquisition, risk management, clearing, and etc. Third, international cooperation has deepened.