Strategic tie up for Da Cheng and Deutsche

Deutsche Asset Management (DeAM) has signed a letter of intent with Da Cheng Fund Management to co-operate strategically in the China fund management market. "With China's anticipated entry into World Trade Organization (WTO), the China asset management industry will be integrated into the global financial system," says Long Xiao Bo, chief executive officer of Da Cheng. "This letter of intent would enable Da Cheng to step toward that direction. Da Cheng and DeAM will be able to cooper…