J.P. Morgan has announced that the China Securities Regulatory Commission (CSRC) has approved J.P. Morgan Securities (China) Company Limited its Securities and Futures Business Permit. The approval paves the way for J.P. Morgan’s majority-owned securities company in China to commence business operations.
J.P. Morgan Securities (China) Company Limited will provide a set of financial products and services in China for its Chinese and international clients including securities brokerage, securities investment advisory, and securities underwriting and sponsorship.
“JPMorgan Chase is very pleased to have established our majority-owned securities company in China,” said Jamie Dimon, chairman and CEO of JPMorgan Chase. “We will continue to invest in and fully support our business in the country, which has become a critical market for many of our domestic and global clients.”
“J.P. Morgan has been operating in China for close to a century and we take a long term strategic approach to our business as we grow with China,” added Nicolas Aguzin, chairman and CEO for J.P. Morgan Asia Pacific. “The launch of J.P. Morgan Securities (China) Company Limited is another important milestone in this critical market.”
Headquartered in Shanghai, J.P. Morgan Securities (China) Company Limited is located in Shanghai Tower, at the heart of the Lujiazui Financial Zone in Pudong District, the centre of Shanghai’s financial industry.
“The establishment of our new securities company further strengthens J.P. Morgan’s domestic platform and our on-shore capabilities at a time when China’s financial markets continue to evolve and the requirements of our clients continue to develop,” said Mark Leung, CEO of J.P. Morgan China.
J.P. Morgan has been doing business in China since 1921. Today, the firm serves Chinese and international corporations, financial institutions and government agencies through its network in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin, Suzhou and Shenzhen.
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