QINGDAO -- Deutsche Bank opened its sixth branch on the Chinese mainland Wednesday in the coastal city of Qingdao in East China's Shandong province following approval from the China Banking Regulatory Commission on June 25.

The new branch offers a full range of cash management, trade finance and loan services, catering to the needs of corporate and financial institution clients, according to Deutsche Bank (China) company.

"We are pleased to further expand our footprint in China with the opening of a branch in Qingdao," said Juergen Fitschen, co-chief executive officer of Deutsche Bank.

"China is one of the most important markets for Deutsche Bank, as it represents both immediate and long-term growth potential. We are committed to growing our business in this country both through organic growth with the expansion of our branch network and through successful partnerships," said Fitschen.

Deutsche Bank, a global financial service company with its headquarters in Frankfurt, Germany, first established a presence in China in 1872 with the opening of an office in Shanghai.

Headquartered in Beijing, Deutsche Bank China now operates branches and sub-branches in Beijing, Shanghai, Guangzhou, Tianjin, Chongqing and Qingdao.