5/12/2014 2:44:59 PM | less than a minute read

Deutsche Bank opens sub-branch in Shanghai free trade zone

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Gareth Jones

Co-Founder, FinTech Collective

Get in touch

Gareth Jones

Co-Founder, FinTech Collective

Shanghai's free trade covers an area of 29 km2, and offers financial firms a streamlined registration process by cancelling out a number of financial requirements needed to set up shop in China.

Deutsche Bank is currently the only German bank with a presence in the free trade zone. Reuters reached out to Commerzbank, Germany's No. 2 bank, for comment - they said they had no plans to follow suit.

Commenting on the Shanghai free trade zone, Alan Cloete, co-CEO of Deutsche Bank Asia Pacific, said: “The establishment of this free trade zone is a critical step in China’s ongoing ambitious financial reforms on cross-border trade and investment flows.”

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