Deutsche to secure foothold in China.

Financial News, October, 2003

Deutsche Bank is poised to set up a joint investment banking venture in China with a local firm, Hantang Securities.Germany's biggest bank joins the growing band of European and American financial companies seeking to exploit China's massive capital markets. Deutsche joins UBS, Goldman Sachs and Morgan Stanley in aiming to to establish an investment banking foothold in mainland China. Companies there are estimated to have raised some $10 billion ([euro]8.5bn) through equity and debt financing this year.

Deutsche and Hantang plan to form a company with initial capital of about $100m. It is thought that they will then sell a stake in the company to Chinese investors.