Deutsche Bank (China) Co., Ltd. (Deutsche Bank China) today announced the opening of its sub-branch in China (Shanghai) Pilot Free Trade Zone (Shanghai Free Trade Zone) following the approval from the China Banking Regulatory Commission (CBRC) on 28 April, 2014. This sub-branch is Deutsche Bank China’s 7th entity, complementing branches in Beijing, Shanghai, Guangzhou, Tianjin, Chongqing and Qingdao.
The Deutsche Bank (China) Co., Ltd. Shanghai Pilot Free Trade Zone Sub-Branch offers a full range of capital market solutions, cash management, and trade finance services with a focus on serving the needs of corporate and financial institution clients associated with cross-border transactions. The services offered include automated RMB cash sweeping for cross-border lending, two way RMB cash pooling, payables/receivables, foreign exchange, interest rate hedging, financial supply chain solutions, structured commodity trade finance, structured trade and export finance, as well as other financing solutions.
"We are pleased to further expand our footprint in China with the opening of a sub-branch in China (Shanghai) Free Trade Zone.” said Alan Cloete, Co-Chief Executive Officer of Deutsche Bank Asia Pacific and member of the Group Executive Committee. “The establishment of this free trade zone is a critical step in China’s ongoing ambitious financial reforms and will have a significant catalyzing impact on cross-border trade and investment flows. We remain deeply committed to the success of not only this free trade zone, but also the broader opening up of China’s economy and capital markets.”
Feng Gao, President and Chief Country Officer of Deutsche Bank China, added: “We are very excited to further expand our franchise in China, and to explore new and innovative services made possible by the founding of the Shanghai Free Trade Zone. Our global network and local expertise enable us to provide solutions to our clients in an increasingly borderless market place. Client demands related to cross-border transactions have been very encouraging. We are very confident to leverage these new opportunities and achieve further success in China.”
For further information, please contact:
Deutsche Bank AG
Press & Media Relations
Tel.: +852 2203 8434
Tel.: +852 2203 7846
Deutsche Bank (China) Co., Ltd.
Tel.: +86 10 5969 8629
About Deutsche Bank China
Deutsche Bank first established a presence in China in 1872 with the opening of its first overseas office in Shanghai. Headquartered in Beijing, Deutsche Bank China completed local incorporation in 2008, currently with branches in Beijing, Shanghai, Guangzhou, Tianjin, Chongqing and Qingdao. Deutsche Bank has a regional hub in Hong Kong SAR, which commences its 56th year of operation in 2014. The bank also maintains securities representative offices in Beijing and Shanghai.
Through rapid organic growth and strategic investments, Deutsche Bank’s core global businesses are all active in China. These include corporate advisory and capital markets, transaction banking, as well as asset and wealth management.
In May 2006, Deutsche Bank acquired a stake in Hua Xia Bank – a national bank listed on the Shanghai Stock Exchange. Subsequently, Deutsche Bank increased its holdings in Hua Xia Bank in October 2008 and then in April 2011, resulting in the current equity ownership of 19.99%.
On the asset management front, Deutsche Bank holds a 30% strategic investment in Harvest Funds Management – one of the country’s leading investment managers.
In July 2009, the joint venture between Deutsche Bank and Shanxi Securities – Zhong De Securities Co. Ltd. – received a securities business license from the China Securities Regulatory Commission (CSRC). Zhong De Securities is currently approved to underwrite and sponsor stocks and bonds (including A-shares, foreign investment shares, government bonds, and corporate bonds), as well as provide corporate advisory services in the domestic capital market. Deutsche Bank holds a 33.3% ownership in the joint venture.
For more information about Deutsche Bank China: https://china.db.com