STORY: China is extremely innovative economy: Deutsche Bank China COO
SHOOTING TIME: June 17, 2024
DATELINE: June 20, 2024
LENGTH: 00:02:09
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of Shanghai
2. various of Deutsche Bank
3. various of China's Tianjin
4. various of Shanghai
5. SOUNDBITE (English): OLE GERDAU, Chief Operating Officer at Deutsche Bank China

STORYLINE:

Deutsche Bank has recently made substantial investments in enhancing its operational capacity in north China's Tianjin Municipality, said Ole Gerdau, chief operating officer at Deutsche Bank China.

Deutsche Bank has a storied history marked by the establishment of its first international branch in Shanghai.

Today, it is an international industry leader recognized as a preeminent financial institution among foreign banks in China, boasting an extensive array of licenses and a commitment to delivering financial services to a diverse clientele, including multinational corporations and financial entities.

SOUNDBITE (English): OLE GERDAU, Chief Operating Officer at Deutsche Bank China
"Our main focuses are providing access to China and financial services to multinational corporations and financial institutions, and also helping Chinese large corporates and institutional investors to achieve their overseas objectives.
And for that, China's economic opening up and RMB internationalization are key drivers. We are dedicated to our clients' lasting success and financial security at home and abroad. And for many of our large multinational clients, China is the most important overseas market.
We are practically investing in China. We've just made significant investments in our operation capacity in Tianjin. We've just hired five research analysts, senior research analysts in covering greater China in key growth sectors, such as renewable and utility, consumer discretionary, automation and industrials. We'll be investing in enhancing our technology that will be a key focus area for us to better serve our local clients. We are constantly on the lookout for more opportunities.
China has emerged to become an extremely innovative economy. So China has been opening quite gradually. Whenever there was another step of opening, there were lots of opportunities coming out of it.
Clearly, what we are witnessing over the last couple of months is significant inflows on the Bond Connect site. So definitely there's a lot of interest from outside again in Chinese fixed income assets."

Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)