J.P. Morgan China chief says bullish on long-term investment in China

Photo taken on April 9, 2020 shows a view of Lujiazui Financial and Trade Zone of Pudong in Shanghai, east China. (Xinhua/Chen Fei)

SHANGHAI, May 24 (Xinhua) -- J.P. Morgan is upbeat about investment opportunities in China, said Mark Leung, chief executive of J.P. 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 J.P. Morgan Global China Summit 2022.

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

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

The company's two branches, J.P. Morgan Securities (China) Company Limited and J.P. 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, J.P. Morgan has expanded its business scope by providing services for medium-sized Chinese enterprises, helping them enter international markets.

With more licenses, J.P. 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 J.P. Morgan is committed to helping its Chinese clients navigate a transition to a low-carbon world.

J.P. 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.