JPMorgan Chase has applied to re-enter China’s securities market with a controlling stake in a joint venture after exiting two years ago.
The US bank has submitted an application to China’s securities regulator to acquire a 51 per cent stake in a Chinese securities company, according to a statement on the website of the China Securities Regulatory Commission.
The news comes after JPMorgan chief executive Jamie Dimon visited Beijing this week. The bank has not named the domestic Chinese company with which it intends to partner.
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