JPMorgan Chase & Co CEO Jamie Dimon is expected to join a flurry of top financial executives to visit mainland China.
JPMorgan CEO to Visit China
CEO of contraversial JPMOrgan Chase, Jamie Dimon, visits China this year as Beijing lifts its “Zero-Covid” policy and reopens the country to foreigners.
Dimon is set to travel to Shanghai at the end of the month as JPMorgan hosts financial conferences. It will be Dimon’s first trip to China in 4 years and comes amid rising tensions between Beijing and Taipei.
The visit is Dimon’s first to mainland China since the pandemic gathered pace in 2020 and closed the world’s second-largest economy for almost three years as it enforced some of the world’s most stringent restrictions.
JPMorgan has a business presence in China. Its wholly-owned securities venture conducts securities underwriting and advisory services.
What Will Happen At the Conference?
JPMorgan will host the Morgan Tech Exchange conference, the China New Economy Forum and the Global China Summit over a three-day day period in Shanghai towards the end of this month, according to two sources. The sources sought anonymity as the information is not yet public.
The three conferences, the Morgan Tech Exchange Conference, the China New Economy Forum, and the Global China Summit, will occur over three days.
Dimon will attend all conferences and conduct internal and external meetings, an indication Western bankers still have some willingness to invest in China. He will also visit Hong Kong in early June after the Shanghai trip.
Dimon’s Visit “No Comment”
A JPMorgan spokesperson in Hong Kong declined to comment on Dimon’s visit to mainland China and Hong Kong.
JPMorgan’s China business presence includes its wholly-owned securities venture, which offers securities underwriting and advisory services. The Wall Street bank acquired 100% ownership of its funds management joint venture in January.
Dimon joins a list of elite bankers who have visited China this year. In March, Goldman Sachs CEO David Solomon, HSBC CEO Noel Quinn, and Standard Chartered boss Bill Winters met with Chinese officials and regulators.
Despite calls from Washington lawmakers for a decoupling between the US and China, Wall Street bankers continue with expansion plans in the world’s second-largest economy.
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