Deutsche Bank (China) Co., Ltd. became the first corporate foreign bank in Beijing approved for custody of securities investment funds since the development of the "two zones". Completing relevant procedures, Deutsche Bank (China) will be able to directly provide custody services to securities investment funds established in China.

Relevant policy

Official Reply of the State Council on the Working plan for Deepening a New Round of Comprehensive Pilot Projects of Further Opening up the Service Sector, and Building a Comprehensive Demonstration Zone for Further Opening up the National Service Sector in Beijing (Guo Han [2020] No. 123)

Extended Reading

The development of the “two zones” in Beijing involves 102 financial policies which include easing market access for foreign financial institutions, facilitating cross-border financial services by financial institutions, fostering cross-border investment and financing, supporting the development of international venture capital, offering preferential personal income tax for professionals working in foreign-funded financial services, developing international wealth management and green finance, supporting financial technology innovation, conducting digital currency trials and other key contents.