Join us for the J.P. Morgan Global China Summit 2025, Capital Connections, May 22-23 in Shanghai. This influential event will feature Jamie Dimon, Chairman and CEO of JPMorganChase, and other distinguished business and economic leaders, including innovators in advanced AI and builders of breakthrough brands.
Last year’s summit marked 20 Years of Exchange and demonstrated that the demand to connect remains high, with over 2,700 international investor and corporate clients joining us from 33 countries and markets. We'll gather again to explore key topics impacting China and the global economy. As investment patterns shift and business strategies pivot, staying engaged is crucial, as markets evolve and make way for new opportunities. We look forward to welcoming you to this must-attend event in Shanghai.
Insights
How will trade tensions impact China’s economy?
What is China’s growth outlook, how will it be impacted by U.S.‑China trade tensions and what are some of the potential policy responses?
2024 conference highlights
Step inside the Global China Summit
Learn the significance of this 20-year exchange.
Step inside the Global China Summit
Learn the significance of this 20-year exchange.
[Music]
Kam Shing Kwang: Global China Summit is the largest global event the bank hosts in China. Annually, for the last 20 years, we have more than 3,000 delegates, representing 1,300 companies, joining us from 33 countries from all around the world.
Harshika Patel: It gives global investors an on-the-ground reality check of what's going on in the Chinese economy.
Sjoerd Leenart: This conference has become a preeminent place to keep track of what's going on in China.
Rita Chan: It's all about the insights, the interaction, and impact.
Alan Ho: It's over the 20 years of connection that we build for the client and the investor.
Wendi Liu: Investors come here to understand the pain points of the world and how it can function better with an eye on return, but also with an eye on making the world better.
[End of video]
Key takeaways from the
J.P. Morgan Global China Summit 2024
What’s next for AI, healthcare and renewables?
What will large language models look like in the future? How will wind power truck batteries and what will the next decade hold for biotech companies in China? These were just some of the questions up for debate at the 20th annual J.P. Morgan Global China Summit in Shanghai, where over 2,700 delegates from 1,300 companies, across 33 countries and markets got together to discuss the growth, innovation and disruption taking place in key industries across China and the rest of the world.
Artificial Intelligence (AI), healthcare and renewables were the hot topics in focus over the course of the two-day event, with investors tackling the complexities of how to balance growth with sustainability. Here, we unpack what clients, business leaders and J.P. Morgan senior executives had to say about these leading sectors at the Summit and how they will shape the future of markets.
“You need to understand what’s going on in China, because what happens in China influences every industry around the world,” Sjoerd Leenart, CEO of J.P. Morgan Asia Pacific, told CNBC in an interview from the Summit.
As China has become increasingly influential in shaping the future growth for major industries around the world, the need to understand the nuances of the market have become essential if investors and companies want to tap into the huge potential of China’s deep economy.
“Over the past 20 years, China has grown from the world’s fourth largest economy to the second largest and its share of global GDP has increased from 4.8% to 16.9%. Understanding China’s proposition is critical for global investors, so they can make informed investment decisions in this evolving market,” said Rita Chan, Co-Senior Country Officer (SCO) for China at J.P. Morgan.
“As the outlook continues to develop, engagement is essential to help determine the direction of markets and identify breakthrough opportunities. The key themes discussed at this year’s Summit will help investors and companies better understand the landscape in China and beyond,” said Alan Ho, Co-SCO for China at J.P. Morgan.
Geopolitics, the changing regulatory environment, a shift in focus from an export-led economy and the importance of focusing on domestic policy to sustain long-term growth in China were common threads across the event, but panelists agreed that even as growth in China has softened, Europe and the U.S. cannot compete with the 5% expected GDP growth for China in 2024.
“China has been on an amazing journey of transformation. There has been huge growth in our Research coverage from around 30 companies to around 300 companies, this conference has grown with the country over time,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co.
“We bank around 1,200 clients in China, a lot of multinationals from around the world. The research we do helps to educate the world on China, that research travels the world,” added Dimon.
AI and the role it will play across industries and in business in the future was the leading topic of discussion at this year’s Summit, from the growing number of AI applications across almost every industry, to the rapid pace of transformation and challenge of forecasting the exponential level of growth the technology could deliver in the spotlight.
“Some estimates indicate AI could add a further $17 trillion to global GDP by 2030,” said Filippo Gori, Co-Head of Global Banking at J.P. Morgan, in his opening remarks to attendees. Conference delegates were also asked to vote on which countries are expected to be the main benefactors of such advancements over this time period, with the U.S. and China coming out on top, according to the audience poll.
Kam Shing Kwang, Chairwoman of North Asia and Vice Chair of Investment Banking for Greater China at J.P. Morgan, was joined by Joe Tsai, Co-Founder and Chairman of Alibaba Group, where they discussed the advancement in large language models (LLMs) and how the growth in machine learning will go hand in hand with the growth in cloud computing necessary to power the burgeoning AI industry. Tsai discussed how LLMs can currently match PhD level knowledge in specific subjects in three to four years. With the “scaling law” in effect, machine intelligence will be able to reach artificial general intelligence (AGI) eventually as more data and computing power is invested, he added.
On another panel, CEO of Private Bank, Asia, J.P. Morgan Harshika Patel and James Sullivan, Head of Asia Pacific Equity Research for J.P. Morgan spoke with Intel Corporation CEO, Pat Gelsinger, on what the future of the semiconductor industry could look like in China and the rest of the world. Topics of interest included how the U.S. intends to ramp up its chip production capacity in the next decade, which should ultimately build resilience for global technology supply chains.
Climate change and the need to steadily transition away from total reliance on fossil fuels to power industries came up again and again on panels, with a big focus on the ground-breaking innovation taking place in the battery industry. Founder, Chairman and CEO of CATL, Robin Zeng shared insights with Andrew L. Cohen, Executive Chairman of the Global Private Bank at J.P. Morgan, on the need to invest in the circular economy and how emerging technologies in batteries, solar cell and wind technology will eventually be able to power large vehicles and airplanes.
Recycling batteries and battery switching - where vehicles can switch batteries in place of refueling for longer journeys was discussed, along with the impact this could have on overall fuel consumption, particularly in China, where as much as 50% of Chinese imports of oil currently fuels trucks. The potential for using wind technology to recharge truck batteries overnight, at a much lower cost, was also debated and how it offers the possibility to power trucks to drive hundreds of kilometers on renewable energy, using batteries that can then be recycled at the end of their life.
In a separate panel, CEO of Asset and Wealth Management at JPMorgan Chase & Co., Mary Erdoes, was joined by Founder and CEO of Citadel, Ken Griffin, where they discussed a wide range of topics including the outlook for China’s economy, the impact consumer spending will have in the future of the country’s growth and China's important role in the shift to EVs.
“50% of every car sold in China is an Electric Vehicle (EV) or in the hybrid space vs. 9% in the U.S.,” said Erdoes.
Industry leaders at the Summit also focused on how China has been at the forefront of growth in the biotech and pharmaceutical industries since the inception of the Global China Summit 20 years ago, growing from just a handful of companies to 60 publicly listed companies, with scientists at the forefront of innovation.
Howard Wang, Head of Greater China Equity at J.P. Morgan Asset Management, hosted an all-female panel of health care industry CEOs and pioneers, Dr. Samantha Du of Zai Lab, Jean Hynes of Wellington Management and Dr. Michelle Xia of Akeso discussed how China has successfully moved away from purely focusing on generics to a more innovation-led model.
In the last two decades, China has moved away from purely focusing on the generic medicines space to a more innovative, patient-led model. But even with the groundbreaking advancements seen in the industry and Chinese products making it onto the market in Europe and U.S., the group highlighted the importance of forming partnerships on the global stage to sustain growth in the biotech industry going forward. As government is becoming more supportive of health care innovation and AI is improving our understanding of biology, the panel agreed the next 20-30 years of development are set to be profound, as the first AI drugs addressing unmet medical needs are entering clinics.
The panel discussed how industries have gone through cycles of deep investment and a lack of funding, so investors need to have a long-term time horizon, as drugs that truly address medical needs, that then go on to become profitable take decades to develop - but the resurgence of IPOs and secondary funding will be driven by data and progress.
“Look through the cycle, innovation is what will drive the economics for companies,” said Wang.
Celebrating 20 years of exchange
J.P. Morgan’s Global China Summit is one of the largest and most influential annual gatherings of business leaders in China. 2024 marks the 20th consecutive year of this flagship event, connecting the global investment community with China’s market, as well as gathering senior policymakers, industry leaders and investors from around the globe to discuss some of the most relevant topics impacting China and the world.
Text on screen:
J.P. Morgan global China summit - 20 years of exchange.
Logo:
J.P. Morgan.
Text on screen:
Over the past 20 years China’s GDP has grown from 2.3 trillion dollars to 17.7 trillion dollars. Share of global GDP has increased from 4.8% to 16.9%. Grown from the world's 4th largest economy to the 2nd largest economy.
Text on screen:
Twenty years of strengthening connections. The global China summit has bought together:
Over 33,000 participants;
Over 5000 companies and institutional investors;
(and) over 25,000 investor meetings.
Bringing China to the world.
On screen:
An aerial view show's the iconic great wall of china. Now,
photos appear, showing:
- zhu guangyao, vice minister of
finance, people's republic of China;
- Lou jiwei, former minister of finance,
people's republic of China;
- Zhou xiaochuan, governor, PBOC;
- Jane sun, CEO,
Ctrip;
- Joe Tsai, co-founder & chairman,
Alibaba group.
- Robin li, co-founder, chairman and ceo
baidu;
- Sonia Cheng, ceo,
rosewood hotel group;
- Ning gaoning, chairman, Sinochem;
- (and) stella li, executive vice
president of BYD, CEO of BYD Americas.
Text on screen:
Bringing the world to China.
On screen:
Photos appear, showing:
- Condoleezza Rice, 66th U.S. Secretary Of State, Director Of The Hover
Institution;
- Henry Kissinger, 56th U.S. Secretary
Of State, Chairman Of Kissinger Associates;
- Madeleine Albright, 64th U.S.
Secretary Of State,
- Ray Dalio, Founder,
Co-Chairman and Chief Investment Officer, Bridgewater Associates;
- Ken Griffin, Founder And Ceo, Citadel;
- Özlem Türeci, Co-Founder And Chief
Medical Officer, Bontech.
- Laxman Narasimhan,
Ceo, Starbucks;
- Michelle Yeoh, Best Actress Oscar
2023, Producer And Director;
- Jeff Immlet, Chairman And Ceo, General
Electric.
- Daniel Pinto,
President And Chief Operating Officer, Jpmorgan Chase & Co.;
- Jamie Dimon, Chairman And Ceo,
Jpmorgan Chase & Co.;
- (And) Mary Erdoes, Ceo, Asset And
Wealth Management, Jpmorgan Chase & Co.
Text on screen:
20 years of thought leadership on the most relevant topics impacting china and the world.
A montage shows:
- A massive construction site;
- and icebergs in a still ocean.
Now, a series of headlines appear, reading:
- what's next for the world's 2nd
largest economy?
- China’s new economy gaining ground;
- embarking on China’s green chapter in
modern times;
- China’s solar boom fuels record growth
in global renewables;
- tapping into 30 trillion yuan
healthcare sector;
- China’s rapid advancements in ai;
- (and) China auto exports rank first in
the world – embracing electrification and autonomous driving.
A montage shows traffic speeding along highways in a metropolis.
Text on screen:
Growing with China. Invested in China. Celebrating 20 years of exchange.
Titles of the speakers presented herein were the titles held by the speakers at the time when they attended the global China summit in the past years.
The speakers may no longer hold the same titles, positions, or work for the same institutions or companies currently.
Please do not rely on and JPMC is not liable for the correctness and accuracy of the titles and positions of the speakers presented herein.
Copyright 2024 JPMorgan chase & co. All rights reserved.
End
Celebrating 20 years of exchange
J.P. Morgan’s Global China Summit is one of the largest and most influential annual gatherings of business leaders in China. 2024 marks the 20th consecutive year of this flagship event, connecting the global investment community with China’s market, as well as gathering senior policymakers, industry leaders and investors from around the globe to discuss some of the most relevant topics impacting China and the world.
2024 conference photos
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J.P. Morgan’s Research team leverages cutting-edge technologies and innovative tools to bring clients industry-leading analysis and investment advice.
This conference is by invitation only and is not transferable. The conference is not open to the media.