JV of Deutsch Bank and Shan Xi 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 People’s Republic of China, and draws on Deutsche Bank’s 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.