JPMorgan Chase Bank (China) Company (JPM China) has received the fund distribution license from the China Securities Regulatory Commission (CSRC) to offer investors with local securities investment funds.
With this license, JPMorgan’s locally incorporated bank in China will start offering RMB money market fund to its institutional and corporate investors.
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JPM China is the first foreign bank subsidiary to receive such distribution license to offer funds managed by China International Fund Management, a JV of JPMorgan Asset Management (UK) and Shanghai International Trust.
Zili Shao, chairman and CEO of JPMorgan China said that by obtaining fund distribution license the firm will now integrate the asset management advisory services for their institutional clients.
Nick Huang, head of JPMorgan global corporate bank for Greater China said: "The funds 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."
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