Deutsche raises stake in Harvest Fund to 30%

Deutsche Bank says its asset management arm has increased its stake in ChinaÆs Harvest Fund Management to 30% from 19.5%. The move expands Deutsche BankÆs presence in China, following its recent approval to incorporate as a local bank in the mainland. The bank already operates in Beijing, Shanghai and Guangzhou providing cash management, global market trading, foreign exchange and commercial banking services. The bank's spokesman in Hong Kong has declined to disclose the amount paid f…