Deutsche Bank applies for local incorporation in China |
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Published
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Mon, 26 Mar 2007 06:36
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BEIJING (XFN-ASIA) - Deutsche Bank said it has filed an application with the China Banking Regulatory Commission to locally incorporate a unit for China domestic operations.In a statement, the bank said the locally incorporated unit will be headquartered in Beijing.The bank will also maintain a branch in Shanghai dedicated to foreign currency operations, it added.China requires local incorporation for units of foreign banks serving domestic retail customers.jianbo.wu@xfn.com
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