JP Morgan China chief says bullish on long-term investment in China

SHANGHAI - JP Morgan is upbeat about investment opportunities in China, said Mark Leung, chief executive of JP Morgan China at an online summit.

"China is now the second-largest economy, and also the largest manufacturing and trading partner in the world. This provides huge opportunities for financial institutions that can support multinational companies operating in China and assist Chinese companies going overseas," said Leung at the JP Morgan Global China Summit 2022.

He added JP Morgan's steady and accelerating development in China benefits from the nation's financial opening-up.

Amid China's capital market opening-up, JP Morgan operates businesses including investment and corporate banking, securities services, commercial banking and asset management, according to Leung.

The company's two branches, JP Morgan Securities (China) Company Limited and JP Morgan Futures Company Limited, are the first foreign fully owned securities and futures ventures in China, respectively.

"A full control of futures businesses helps domestic and global customers better deal with clearance of commodities and securities contracts at China's futures exchanges," said Leung.

For commercial banking, JP Morgan has expanded its business scope by providing services for medium-sized Chinese enterprises, helping them enter international markets.

With more licenses, JP Morgan will introduce more cross-border products and platforms to China and develop more localized services and support for clients, according to Leung.

When talking about China's green agenda, Leung said JP Morgan is committed to helping its Chinese clients navigate a transition to a low-carbon world.

JP Morgan celebrated a century in China last year. "We are very focused on making sure we are well-positioned to embrace our next century in this country," Leung said.