trending Market Intelligence /marketintelligence/en/news-insights/trending/53prxIpzuGD_XLzrJp15aQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: JPMorgan seeks approval to take full ownership of Chinese futures JV

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


Report: JPMorgan seeks approval to take full ownership of Chinese futures JV

U.S.-based JPMorgan Chase & Co. lodged an application with the China Securities Regulatory Commission to take a 100% ownership stake in its futures joint venture in China, Financial Times reported Jan. 9, citing people familiar with the matter.

The U.S. bank currently holds a 49% stake in Guangdong, China-based JPMorgan Futures. The move is part of the U.S. bank's plan to increase investments in its Chinese businesses and eventually take full ownership of its joint ventures in the country.

The bank declined to comment, FT added.

UBS Group AG is currently the only foreign bank to have a wholly owned futures unit in China, the publication reported.

JP Morgan in December 2019 secured approval to start a majority-owned securities venture in China. The move came after China relaxed ownership rules by allowing foreign banks to simultaneously set up wholly owned subsidiaries and branches in the country.