Deutsche Bank has opened a sub-branch in Shanghai’s free trade zone, offering a range of capital market solutions to corporate and financial firms. The bank will provide cash management and trade finance services with a focus on cross-border transactions after the approval from China Banking Regulatory Commission (CBRC).
Shanghai offers a free trade zone of 29 km2, which cancels out many financial requirements for setting up a company in China by offering a simplified registration process. This also opens up investment and promoting trade development.
The zone was launched in September and more than 1,400 companies have registered to join during the first two months.
Deutsche Bank will offer automated RMB cash sweeping for cross-border lending, two way RMB cash pooling, payables/receivables, foreign exchange, interest rate hedging, financial supply chain solutions, structured commodity trade finance, structured trade and export finance.
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