Jamie Dimon, chief executive of JPMorgan Chase, is planning his first visit to mainland China in four years as the US bank prepares to hold three conferences in Shanghai in late May.
Julia March | Bloomberg | Getty Images
Jamie Dimon, the chief executive of JPMorgan Chase & Co, is expected to visit mainland China this month for the first time in four years, sources said, the latest in a series of visits by top foreign financial executives since the lifting of the hard Covid -19 curbs.
The trip happens like JP Morgan is holding three conferences in the Shanghai financial hub at the end of the month, said four sources, all of whom have direct knowledge of the matter.
The visit is Dimon’s first to mainland China since the pandemic accelerated in 2020 and shut down the world’s second-largest economy for nearly three years as it enforced some of the world’s toughest restrictions.
JPMorgan will host the Morgan Tech Exchange Conference, China New Economy Forum and Global China Summit over a three-day period in Shanghai later this month, according to two of the sources.
The sources requested anonymity because the information is not yet public.
Dimon will attend conferences and hold internal and external meetings, one of the sources said. He will also travel to Hong Kong in early June following the trip to Shanghai, two of the sources added.
Dimon traveled to the Asian financial hub of Hong Kong to meet bank staff and customers in November 2021.
A spokesperson for JPMorgan in Hong Kong declined to comment on Dimon’s visit to mainland China and Hong Kong.
JPMorgan’s business presence in China includes its wholly-owned securities firm, which offers underwriting and securities advisory services. The Wall Street bank acquired 100% of its fund management joint venture in January.
The fund activity approval process took more than two years.
Nearly 1,500 people, mostly foreign investors, will attend the Global China Summit, one of the sources said, a sign that foreign investors remain interested in buying into China after it reopened in January from its “zero -Covid”.
In recent years, Wall Street and European financial firms have intensified their expansion efforts in China, seeking to strengthen their presence through new facilities and joint venture partnerships.
In late March, a wave of top financial executives visited China for the first time since the Covid pandemic, as global financial giants seek to cement ties with Beijing at the start of President Xi Jinping’s new term.
Goldman Sachs CEO David Solomon, HSBC CEO Noel Quinn and Standard charter Boss Bill Winters was among those who held face-to-face meetings with Chinese officials and regulators at the time.
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