Deutsche Bank (China) Co., Ltd. (hereinafter referred to as “Deutsche Bank China”) has recently completed the preparations before the formal exhibition of securities investment fund custody business, passed the on-site inspection and acceptance of China Securities Regulatory Commission (hereinafter referred to as “CSRC”) and Beijing regulatory bureau, and applied to the CSRC for the license to operate securities and futures business today (December 15), It will officially provide custody services for securities investment funds established in China.
In recent years, China’s fund industry has developed rapidly and the degree of specialization has been continuously improved. At present, the scale of China’s public securities investment fund custody market alone has reached more than 20 trillion yuan. At the same time, with the implementation of new QFII / rqfii regulations, the continuous development of inter-bank direct investment channels and bond communication mechanism, international investors’ demand for the allocation of Chinese assets is also increasing.
Deutsche Bank believes that with the continuous strengthening of the joint integration of China’s domestic capital market and the global financial market, it is predicted that the total scale of overseas capital inflows will reach 4 trillion yuan (about 590 billion US dollars) from 2021 to 2025.
At present, China has become one of the fastest growing markets in the world. After the exhibition, Deutsche Bank will introduce the leading cross-border custody and practical experience in the global market. At the same time, Deutsche Bank’s China securities investment service team is also developing and growing, focusing on cross-border advantages and deeply tapping the needs of China’s local market.
As the first EU foreign bank to carry out securities investment fund custody services, Deutsche Bank China is also one of the first major foreign custodian banks for QFII, rqfii and QDII, and one of the most active foreign settlement agents in the Bank Of China Limited(601988) bond market. Under the new regulations, Deutsche Bank China actively assists qualified foreign investors to participate in domestic margin trading, private securities investment and other transactions.
“With the continuous opening of China’s capital market to the outside world, international institutional investors have arranged the local market one after another. Under this positive background, Deutsche Bank was approved to officially carry out the custody business of securities investment funds, which can be said to be at the right time.” Zhu Tong, general manager of Deutsche Bank China and chairman of Deutsche Bank (China) Co., Ltd., said, “At the same time, we also see that all Chinese bonds have been included in the three major international bond indexes, which fully shows the confidence of international investors in China’s long-term and healthy economic development and the continuous expansion of financial opening-up, and is expected to attract more foreign capital inflows. We hope to firmly grasp this opportunity, introduce the experience of global services such as fund custody into China, and help global institutional customers invest While investing in China, it also expands its service capacity to local institutional customers. ”
Anand rengarajan, Asia Pacific head of Deutsche Bank Securities Investment Services and global sales director of securities investment services, said: “We are very pleased to provide custody services for Chinese securities investment funds and provide all-round support for our global customers’ investment in the Chinese market. China is one of the most important and fastest-growing markets in the world. As a leading custody service institution in the world, we can be among the few foreign banks that can provide custody services for securities investment funds in China This is a significant development for banks. In the future, we will continue to give full play to our professionalism in the Chinese market and provide customers with more flexible customized hosting solutions. ”
“Carrying out securities investment fund custody business is an important part of Deutsche Bank’s regional strategic layout of securities investment services. China is an indispensable core market in our business growth strategy.” Tony Chao, head of Greater China of Deutsche Bank’s Securities Investment Services Department and sales director of Securities Investment Services North Asia, said: “Deutsche Bank’s custody business has a long history in China and is one of the first foreign banks to provide custody services for overseas customers’ investment in China. The increase of securities investment fund custody services not only enriches our comprehensive products and services in the Chinese market, but also makes us a high-quality partner for domestic asset managers and financial intermediaries.”
(Xinhua Finance)
