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Deutsche Bank said on Tuesday that its Chinese securities joint venture had won regulatory approval from Beijing, becoming the latest Western institution to gain access to China's restrictive domestic capital markets.
The company said that the China Securities Regulatory Commission had granted its approval to a proposed joint venture with Shanxi Securities Co Ltd, called Zhong De Securities Co Ltd.
Deutsche owns 33.3% of the venture, which will focus on underwriting Chinese shares and debt. (Reuters)