About J.P. Morgan's Business in China
十年后，摩根大通的前身之一 Equitable Eastern Banking 公司于1921年开设了上海分行，从而开启了摩根大通落地中国开展业务的序幕。1929年，摩根大通在天津开设了第二家分行。新分行的设立为公司带来了独一无二的机会，可以向当地企业、外国公司和政府部门提供金融服务。1930年， Equitable Eastern Banking 公司与大通银行合并，该合并交易也包括对中国两家分行的收购。
The early years
Even before the firm opened its first office in China, it was working with clients in the region. In 1911, J.P. Morgan & Co. headed a syndicate of underwriters to manage the Huguang Railway’s $7.5 million bond issuance—the first public offering of Chinese railway bonds. The funds were raised to provide capital for the construction of railway lines in the provinces of Hunan and Hupei.
A decade later, the firm launched its on-the-ground presence when predecessor firm Equitable Eastern Banking Corp. opened its Shanghai branch in 1921. By 1929, the firm had opened a second China branch in Tientsin. These new offices offered the firm a unique opportunity to provide financial services to both local and foreign companies and government entities. The merger of Equitable Eastern Banking Corp. with Chase Bank in 1930 included the acquisition of both China branch offices.
Building on a successful foundation
The firm continued to strengthen its commitment to China in the 1960s and 1970s, as David Rockefeller, then chairman of Chase Manhattan, frequently visited Hong Kong. During that time, the firm opened several new offices, with Chase growing to five branch offices by 1972 and becoming the Bank of China’s first American correspondent bank in 1973.
In the following years, the firm continued to invest in growing its footprint in China, opening its first representative office in Beijing in 1981, as well as representative offices in Shanghai and Tianjin in 1993 and branch offices in Guangzhou and Chengdu in 2009.
Over the last decade, J.P. Morgan has reached several important milestones that have enabled us to better serve our clients in China, including gaining approval to establish the locally incorporated bank, JPMorgan Chase Bank (China) Co. Limited; receiving Qualified Foreign Institutional Investor status; and establishing a Beijing-based joint venture with First Capital Securities Co. Ltd. — J.P. Morgan First Capital Securities Co. Ltd. — which engages in the Chinese domestic securities underwriting business.