J.P. Morgan's China JV cleared to start operations

The joint venture with First Capital Securities will enable J.P. Morgan to underwrite domestic equity and bond issues in China.

J.P. Morgan's China JV cleared to start operations
Photo: AFP

J.P. Morgan and First Capital Securities have received the final business permit that will allow them to start operations at their securities joint venture in China. This comes a month after Morgan Stanley got the go-ahead for its JV with Huaxin Securities and will make J.P. Morgan the eighth international bank able to underwrite and sponsor primary equity and corporate bond issues in China’s domestic market.

Echoing his comments from early January when the two...

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