Deutsche Boerse AG announces new joint venture to strengthen financial links

As German Chancellor Angela Merkel seeks deeper economic ties with China, Deutsche Boerse AG announced a new venture intended to strengthen financial links between the two countries.

Germany's biggest exchange and China Foreign Exchange Trade System agreed on a joint venture that will host interbank products and renminbi-denominated currency and interest-rate trading, according to a statement on Thursday. CFET, run by the People's Bank of China, provides trading and information for interbank bonds and foreign exchange.

A week after Chinese President Xi Jinping stayed at Buckingham Palace in London, Germany is getting its turn at building its relationship with the world's second-biggest economy.