A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany. Photo: Reuters/Kai Pfaffenbach

“We have to set aside our fear of China,” Deutsche Bank Asia chief Werner Steinmueller told the German business daily Handelsblatt in an interview this morning.

Chinese billionaire Chen Feng’s HNA group is now Deutsche Bank’s largest stockholder. Deutsche Bank is trying to acquire a retail banking license in China and build an investment banking business together with local partners.

Handelsblatt comments: “What Steinmueller means is that Deutsche Bank might succeed to do in China what it failed to do in the United States.”