Related News
JPMorgan Chase Bank gets OK to offer local money market fund in China
Online Edition
JPMorgan Chase Bank has gotten the green light from China’s securities regulator to sell local securities investment funds in China, joining a group of foreign banks in getting a piece of the country’s rapidly growing mutual funds market.
JPMorgan Chase Bank (China) Co Ltd, JPMorgan’s locally incorporated bank in Beijing, will begin by offering a yuan-denominated money market fund to institutional and corporate investors, the largest US bank said in an email statement yesterday.
“When it comes to investments, our institutional and corporate clients, local or international, are seeking to establish more robust investment policies and use a wider range of instruments, with a primary focus on fixed income,” said Nick Huang, head of JPMorgan’s Global Corporate Bank for Greater China.
“The fund distribution license will, over time, allow us to offer our clients the widest range of investment options from the rapidly growing asset management industry, combined with traditional bank products,” Huang said.
China Securities Regulatory Commission in June first allowed foreign banks to sell domestic mutual funds as the regulator seeks to boost the participation of institutional investors in China’s nascent securities market to reduce volatility.
JP Morgan Bank joined other eight overseas banks to sell funds, — Citibank, HSBC, East Asia, DBS, Hang Seng Bank, Nanyang Commercial Bank, Standard Chartered and United Overseas Bank.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
