Deutsche Bank has announced the opening of its new branch in Tianjin, China, in a sign that the private bank is committed to establishing a wider presence in what is viewed as the world's fastest-growing region.

The bank presently has offices in Beijing, Guangzhou, and Shanghai. After its joint venture Shanxi Securities was granted a business license by the China Banking Regulatory Commission in July, Deutsche Bank now has the power to launch investment banking units that target domestic Chinese clients.

"The opening of Deutsche Bank's Tianjin branch enables a significant expansion of our North China coverage," said Lee Zhang, the group chairman of Deutsche Bank China and global banking head for Asia-Pacific (ex Japan), in a statement.

"It is an important step in Deutsche Bank's strategy in China, where we are committed to continue developing our business."

Tianjin is one of the busiest urban areas in China. Being a port city, it is touted to become one the fastest growing financial centres in the country.

The Tianjin branch will focus mainly on transaction and corporate banking.