Tuesday , November 24 2020

Deutsche Bank wants to invest more in China



Frankfurt / Berlin (APA / Reuters) – Deutsche Bank wants to get more involved in China. "We want to invest even more in China," said Werner Steinmüller, a member of the Council of Deutsche Bank responsible for the Asia-Pacific region, the Handelsblatt (Monday). He considers the consequences of the trade dispute between China and the US manageable.

"First, I think the conflict is not mainly about the trade deficit that the US and China have," said Steinmüller. It is more about the competition between two systems: the state-controlled economy and the free-market economy. "We benefit from this competition as an alternative to US banks, but the consequences of the conflict are still considerable." Deutsche Bank experts expect the trade dispute to be 0.3 percentage points less than US economic growth and 0, 4 percentage points less in China, "said Steinmüller.

Steinmüller has been on the Executive Board of Deutsche Bank since 2016, responsible for the Asia-Pacific region. His contract expires at the end of July. In principle, Steinmüller can imagine continuing to work on this capability in addition. "I really enjoy my work and I like to continue," he told the newspaper.

~ ISIN DE0005140008 WEB https://www.deutsche-bank.de/index.htm ~ APA268 2018-11-04 / 20: 39


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