Deutsche Bank and the China Construction Bank (CCB) have signed an agreement to cooperate more in the provision of financial services. A recently signed letter of intent outlines ways in which the two banks will exchange information to provide enhanced credit facilities for customers.

Under the agreement, Deutsche Bank is to recommend customers to CCB and to provide guarantees so that the Chinese bank is able to extend better credit terms to these customers. The guarantees may be used to back loans, discounts for bill acceptance or letters of credit.

CCB is one of four Chinese State commercial banks and already works with Deutsche Bank in foreign exchange capital clearing, international settlement and overseas financing.

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