Singapore’s DBS Bank has secured approval for starting operations of a sub-branch in the Shanghai Pilot Free Trade Zone. The China Banking Regulatory Commission has given approval for the sub-branch. DBS Bank (China) is among the first round of financial institutions, and one of the first two foreign banks, to get approval to set up an outlet in the FTZ. DBS has over 250 branches across 16 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: China, Southeast Asia and South Asia.