J.P. Morgan receives corporate bond underwriting license in China's interbank bond market
Beijing - JPMorgan Chase Bank (China) Company Limited (J.P. Morgan) announced that it had received approval and license from the National Association of Financial Market Institutional Investors (NAFMII) to underwrite corporate bonds in China’s interbank bond market.
J.P. Morgan is the first American bank to receive this license. NAFMII is an authorized self-regulatory body accountable to People's Bank of China that oversees the Chinese interbank bond market. The license enables J.P. Morgan to underwrite debt financing instruments issued by non-financial entities, including commercial papers, medium-term notes and other instruments approved by regulators.
“China is a critical market for J.P. Morgan both regionally and globally and the firm believes in its long term future success. As its capital markets continue to develop with increasing international participation and transparency, the license will further enhance our ability to serve our clients,” said David Li, Chairman and CEO of J.P. Morgan China.
“As the leading financial institution in the global fixed income markets, J.P. Morgan is well positioned to provide the necessary support to corporate issuers as they become more active in the interbank bond market,” said Julia Wu, President of JPMorgan Chase Bank (China) Company Limited.
According to China Central Depository & Clearing Co., China is the third largest bond market in the world with RMB 43.7 trillion outstanding at the end of 2016 with the interbank bond market accounting for over 90% of this.
About J.P. Morgan
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan in China
J.P. Morgan has been doing business in China since 1921. J.P. Morgan’s services include corporate and investment banking, commercial banking, treasury services, markets, investor services and asset management. Today, the firm serves Chinese and international corporations, financial institutions and government agencies through our network in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin, Suzhou, Shenzhen and Zhongshan.