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Deutsche Bank AG
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 77,920 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world.
With over 1,000 employees, Deutsche Bank now maintains branch offices in Beijing, Shanghai, Guangzhou and Hong Kong.
At the beginning of 2008, Deutsche Bank announced that following approval from the China Banking Regulatory Commission on its incorporation in the PRC, Deutsche Bank (China) Co., Ltd. officially commenced operation on 1 January 2008.
Under its license Deutsche Bank China will be entitled to engage in a broader range of banking services including foreign exchange and RMB businesses such as receiving deposits and lending; buying and selling government bonds and financial bonds; and buying and selling foreign currency-denominated securities other than stocks.
The original branches and sub-branches of Deutsche Bank AG in Beijing, Shanghai and Guangzhou will be converted into corresponding branches and sub-branches of Deutsche Bank China, which will be headquartered in Beijing. Deutsche Bank AG will retain a wholesale FX branch in Shanghai.
Deutsche Bank commenced business in China in 1872 and participates strongly in the country in cross border investment banking; sales and trading activity; and transaction banking and trade finance services. The Bank has recently launched private and business banking through retail sub-branches in Shanghai and Beijing, and also on June 2007 launched a credit card joint venture with Hua Xia Bank in which Deutsche Bank has a 9.9% shareholding. Deutsche Bank also owns 19% in Harvest Fund Management, China’s largest independent asset management company.
