What does a subsidiary of China Merchants Bank mean?

A company controlled by China Merchants Bank. According to the inquiry information, the subsidiary of China Merchants Bank has independent legal personality and is a subsidiary of China Merchants Bank. China Merchants Bank was established in Shekou, Shenzhen, 1987. It is the first joint-stock commercial bank wholly owned by an enterprise legal person in China and the first pilot bank to promote banking reform from outside the system.