Deutsche Bank expands in China

Deutsche Bank announced yesterday that its new Tianjin branch is open for business. The new branch complements Deutsche Bank's existing network in Beijing, Shanghai and Guangzhou and follows approval from the China Banking Regulatory Commission, obtained in July 2009.

It is also part of a larger-scale build up of the bank's China business. In July, Deutsche Bank announced that its joint securities venture with Shanxi Securities had received a business license from the Chinese regulators, meaning it could launch investment banking services targeted at the domestic Chinese market.

Mainly focused on transaction and corporate banking, the new branch will initially offer services such as treasury products and services for foreign exchange and interest rate hedging, structured trade, and export finance; and will also provide onshore sales and customer services support to financial institutions.

Lee Zhang, group chairman of Deutsche Bank China and head of global banking for Asia-Pacific (ex-Japan), said: "The opening of Deutsche Bank's Tianjin branch enables a significant expansion of our North China coverage. It is an important step in Deutsche Bank's strategy in China, where we are committed to continue developing our business."

Betty Deng, chief country officer and president of Deutsche Bank China, added in a press release: "Under the guidance and approval of the CBRC, Deutsche Bank has successfully launched its fourth branch in China. Our presence in Tianjin will allow us to extend the bank's premium services to clients both within the municipality and around the Bohai Rim."

A port city in northern China, Tianjin is one of the largest urban areas in the country. The municipality hosts a number of economic and technological development zones and has also been designated as a centre for financial innovation and emissions trading.

Deutsche Bank's new branch is located at Exchange Tower 2, Nanjing Road, Heping District, Tianjin.