Deutsche Bank has been selected to be a foreign exchange collective management pilot bank of the State Administration of Foreign Exchange of China (SAFE) to provide foreign exchange collective management and collection and payment and net settlement services for enterprises participating in the pilot.
Deutsche Bank's customer Datang Telecom Technology & Industry Group is approved to be one of participating enterprises. Deutsche Bank will begin to provide fund management services allowed by the pilot for Datang Telecom and its member companies from September and strive to assist the group to increase its internal fund operating efficiency.
Source:
http://www.sinocast.com/readbeatarticle.do?id=99409
