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Deutsche Bank used gifts and favors to win Chinese business

Confidential documents shared with the NYT show how the German lender used gifts and political maneuvers over 15 years to become a major player in China.

More than 100 relatives of high-level Communist Party members were hired for jobs at the bank without meeting qualifications, and millions of dollars were paid to Chinese consultants with access to politicians.

And then there were the gifts, which included:

• A crystal tiger and a Bang & Olufsen sound system, worth $18,000 combined, given to a Chinese president;