Deutsche Bank China has received an inter-bank bond settlement agent license from People’s Bank of China (PBC), to provide end-to-end bond services to local corporates and financial institutions across the country, including bond trading and settlement services.

In addition to on-exchange to a range of clients, Deutsche Bank will be able to offer onshore settlement services on the OTC market including Renminbi trade settlement banks, insurance companies, QFIIs and RQFIIs.

Carl Wegner, Greater China head of global transaction banking at Deutsche Bank, said: "Our clients will be able to gain efficiencies from using Deutsche Bank for all their bond services needs. At the same time, this will help us to extend our client base to new segments."

Beng Hong Lee, head of markets at Deutsche Bank China, said: "Inter-bank trading activities represent more than 94% of the bond market in China, so this license brings great potential to our fixed income trading franchise.

"In addition, our clients will directly benefit from this end-to-end onshore bond platform, which hinges on Deutsche Bank’s seamless service delivery and world-class capabilities across the Bank," Lee added.