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12/10/2020, 11:45 AM (Source: TeleTrader)
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Deutsche Bank gets fund custody license in China

Deutsche Bank China announced on Thursday that its application for a domestic fund custody license was approved by the Chinese Securities Regulatory Commission (CSRC). After the relevant administrative process is over, the company will have the right to directly provide custody-related solutions to funds based in China.

The bank's chief Rose Zhu expressed his satisfaction for this development relating to China's "booming domestic fund industry that is looking for global expertise to foster further development." He also pointed out that Deutsche Bank can now extend its local services, following the interest of the company's global institutional clients in the Chinese market.

Currently, Deutsche Bank supports custodian services in more than 70 major markets globally, 12 of which are in the Asia-Pacific region.

Breaking the News / CG