Sources said

Selena Li and Iain Withers

Hong Kong/London (Reuters) -DEUTSCHE Bank, its asset management department DWS and Chinese lenders' postal savings bank (PSBC) talks about Chinese joint ventures. Since then, the German company has resisted the Beijing company to promote its shares. Requirements, sources say.

The source of the two direct understanding of the matter said that the Fund ARM DWS owned by most stocks of Deutsche Bank has been aimed at the expansion of Chinese asset management business for a long time, and has been talking with PSBC for about five years.

After introducing a new framework in Beijing, Bellek and Goldman Sachs cooperated with large Chinese banks to meet the growing needs of Chinese investors and visited the Chinese ambitions of German companies, which caused a blow to the Chinese ambitions of German companies.

This development occurred in the western currency managers of several competitors, hitting or growing obstacles to launching or growing in China, while others were postponed by eliminating geopolitical tensions and weakened economic prospects.

According to sources, DWS's latest plan is that Deutsche Bank owns 47.5 % of the joint venture, PSBC owes 47.5 % of the shares, while the US investment company is Management is 5 %.

According to sources, the Chinese authorities hope that the Deutsche Bank will raise its holdings in new careers and occupy a majority equity alone. The talks launched on this issue refuse to be called discussion.

It is unclear why Deutsche Bank does not want most equity.

Beijing first stated in 2019 that it will allow global companies to and Bank of China for wealth weapons to form a majority of foreign asset management joint ventures. The current rules do not specify whether at least one foreign investor must be a majority shareholder.

DWS, Deutsche Bank and ARES refuse to comment.

The fax request and telephone number of the National Financial Supervision Bureau (NFRA) of the Bank of China (NFRA) did not get a reply due to the Chinese New Year holiday. PSBC did not respond.

DWS CEO STEFAN HOOPS has held his position since 2022. He said that expansion in the wide Asia -Pacific region is a strategic priority. The company still has footprints in China through its 30 % harvest fund shares.

Western financial institutions have been scrambling to enter China, but they have caused questions about its economy, limited trading opportunities and concerns about regulatory interference, which worsen the prospects.

Last year, Fidelity International, Morgan Stanley, and law and ordinary people were people who cut Chinese -centric or shelved expansion plans.

(SELENA LI's report in Hong Kong and Iain Withers in London; other reports of Tom Sims in Frankfurt; Tommy Regigior Wilkes and David Elem Edit of David Evans)