Zhong De Securities - JV of Deutsch Bank and Shanxi Securities

Incorporated in April 2009, Zhong De Securities is a joint venture of Deutsche Bank and Shanxi Securities.The Company is strongly positioned within the Peoples Republic of China, and draws on Deutsche Banks expertise as a leading global investment bank, and Shanxi Securities position as one of the first group of securities firms to operate within the country. Zhong De provides a full range of investment banking services to its clients, including securities underwriting and capital markets related advisory services. Background Info: A joint venture with a Chinese company is so far the only way for foreign banks to do investment banking business in mainland China. According to Chinese laws, foreign banks can own no more than 33% equity in the JV, but almost all such JVs are actually run by the foreign bank. As of July 2010, UBS, Credit Suisse, Deutsch Bank and Goldman Saches have owned such JV securities in China. JPM, Citi, Mcquaire, RBS are actively seeking to establish such one