Deutsche Bank, Shanxi Securities ink JV deal
27 June 2008
Deutsche Bank has signed a deal to create a brokerage joint venture with Shanxi Securities, the South China Morning Post reported. The German investment bank plans to take a 33% stake in the Beijing-based venture, the maximum allowed for foreign investors in the sector. The deal marks the second Sino-foreign brokerage tie-up since approvals on such deals were suspended 18 months ago. Earlier this month China's securities regulator approved a joint venture between Credit Suisse and Founder Securities.