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在线翻译:
szdaily -> Markets -> 
JPMorgan applies for China venture control
    2018-05-14  08:53    Shenzhen Daily

JPMORGAN Chase & Co. has submitted an application to acquire a majority stake in a Chinese securities venture, following UBS Group AG and Nomura Holdings Inc. in seeking to take advantage of China’s latest commitment to open its financial markets.

JPMorgan Brokering (Hong Kong) Ltd. is seeking permission to take a 51 percent stake in a local entity, according to a China Securities Regulatory Commission statement. The regulator will review the application efficiently in accordance with the law and regulations, the statement said.

The move comes after JPMorgan CEO Jamie Dimon visited China last week and expressed hope that mounting trade tensions between China and the United States won’t derail the U.S. bank’s plans to expand in the world’s second-largest economy.

Dimon, 62, reiterated in an interview that JPMorgan still plans to achieve 100 percent ownership of a Chinese brokerage operation, adding that the bank is in the “process.”

China renewed a pledge last month to open its financial markets and set a June deadline for allowing foreign firms to own as much as 51 percent of their securities joint ventures, up from the current 49 percent ceiling. All ownership limits will be removed after three years, China has said.

UBS submitted an application May 2, while Nomura filed its request earlier last week. Both banks acted after China’s securities regulator encouraged them to quickly submit applications, people with knowledge of the matter have said. (SD-Agencies)

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