Christian Sewing, CEO at Deutsche Bank. [Photo provided to chinadaily.com.cn]
Deutsche Bank remains optimistic about the long-term development of the Chinese economy and regards China as a key market in the Asia-Pacific region, Christian Sewing, CEO at Deutsche Bank, said following his visit to the region last week.
“I spent the first couple of days in Beijing and, as always, left feeling energized,” Sewing said in a post on LinkedIn. “The speed of development and thirst for innovation is everywhere, so it’s no surprise that it’s a key market for both our clients and Deutsche Bank.”
Emphasizing that Deutsche Bank has been on the ground in China for over 150 years, he said not many people know that the bank opened one of its first overseas markets in China before it ever stepped foot locations like London, Paris, and New York.
“We’re lucky to be able to offer our clients a deeply embedded presence in this part of the world and it’s something we will continue to invest in,” he said. “That’s because the broader Asia-Pacific and Middle East regions are critical to our global growth ambitions.”
He pointed out that Asia-Pacific is one of the fastest-growing regions worldwide, with trade expanding both into and within the region. As one of the European Union’s largest and fastest evolving trading partners, it is also vital to Europe’s competitiveness and growth.
“For us, this creates real opportunity and being the bank that combines local expertise with global reach means we can support our clients as they grow, in both directions, in a way few others can,” he said.
During his visit to Beijing, Sewing met with Pan Gongsheng, governor of the People’s Bank of China, the country’s central bank, on June 30. The two sides exchanged views on the current economic and financial situation in China and globally, as well as Deutsche Bank’s business operations in China, the PBOC said on its website.
On the same day, Sewing met with Liao Lin, chairman at Industrial and Commercial Bank of China, the country’s largest State-owned commercial lender by assets. The two sides exchanged views on topics including China-EU economic and trade relations, deepening business cooperation and the application of artificial intelligence.
ICBC and Deutsche Bank are global systemically important banks that have long maintained close communication and cooperation in multiple business areas, achieving practical results.
ICBC said on its WeChat official account that the two sides will further leverage their respective strengths to continuously strengthen cooperation in areas such as bond underwriting and issuance, fund settlement, financial markets, asset custody, and international financial governance. Together, they will provide high-quality financial services to global clients, support German and other European companies in exporting to China, and make greater contributions to China-Germany and China-Europe economic, trade, and investment cooperation.
Sewing also met with Gu Shu, chairman at Agricultural Bank of China, another large State-owned commercial lender, on June 29.
Gu said China is continuing to steadily expand institutional openness in the financial sector, laying a solid foundation for global financial institutions to deepen their presence in the Chinese market and share in development opportunities.
ABC and Deutsche Bank are long-standing and friendly partners, and Gu expressed hope that the two banks would continue to strengthen business cooperation across multiple areas in the future to promote greater development in Sino-German and Sino-European economic and trade cooperation, ABC said on its WeChat official account.
Sewing said Deutsche Bank will continue to deepen cooperation with ABC, working together to serve as a financial bridge and actively supporting bilateral and multilateral economic and trade exchanges.
Tanks to chinadaily.com.cn
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