Lee Zhang, chairman of Deutsche Bank China, said: Local incorporation is an important step in the implementation of our China strategy. We are already well positioned for expansion and local incorporation will allow us to accelerate our growth plans across all product lines.
Colin Grassie, CEO of Deutsche Bank Asia Pacific, said: Local incorporation expresses not only our commitment to China but also our desire to participate directly in the development of the local financial services market there. We want all of our global business lines to build a strong presence in China as regulation allows and local incorporation gives us that foundation.
Deutsche Bank has been operating in China since 1872 and has recently launched private and business banking through retail branches in Shanghai and Beijing.
