J.P. Morgan’s Application to Establish a Majority-controlled Securities Company in China Approved by the China Securities Regulatory Commission
BEIJING, March 29, 2019 – JPMorgan Chase today announced that it has received approval from the China Securities Regulatory Commission (CSRC) to establish a new majority owned and controlled securities company in China - J.P. Morgan Securities (China) Company Limited.
The establishment of a majority-controlled securities company in China will allow J.P. Morgan to further strengthen its onshore platform and offer a complete set of services and solutions to its clients both in China and globally. J.P. Morgan is a top underwriter of both debt and equity as well as a leader in cross-border M&A, global markets research, analytics and trade execution for governments, the world’s largest companies and institutional investors.
Nicolas Aguzin, Chairman and CEO of J.P. Morgan Asia Pacific said, “China is one of the largest and fastest growing markets in the world and represents one of the most exciting opportunities for many of our clients and our firm. It’s a critical component of our growth plans globally as well as in Asia Pacific and the progress and investments we continue to make reflect our long-term commitment to bringing the full force of our firm to the country.”
Mark Leung, CEO of J.P. Morgan China said, “This is a major milestone in J.P. Morgan’s long history in China. We are very excited to have the opportunity to further strengthen our market presence to better support our clients and the local economy. ”