Deutsche Bank wins approval

Deutsche Bank wins approval

SHANGHAI: Germany's largest bank Deutsche Bank has won
regulatory approval to trade in China's US$500-billion securities
markets, it was announced Monday.

Deutsche is the sixth foreign institution to be granted access
by the China Securities Regulatory Commission, the regulatory
body reported on its website.

Switzerland's UBS, Japan's Nomura Holdings and the United
States's Morgan Stanley, Citigroup and Goldman Sachs were the
first five groups granted access under the Qualified Foreign
Institutional Investors (QFII) scheme earlier this year.

Rules governing QFIIs were published late last year and in
March this year China appointed a number of custodian banks
authorized with opening accounts for them.

Foreign institutions can invest in all of the more than 1,200
A-share listed companies in China and are no longer restricted to
the paltry B-share market which was been open to them for more
than a decade.

UBS and Citibank have reportedly already executed trades. --
AFP