J.P. Morgan Securities (China) Will Become the First Wholly Foreign-owned Securities Company in China
On August 6, J.P. Morgan announced that the China Securities Regulatory Commission (CSRC) approved the transfer of equity interests held by five Chinese shareholders to J.P. Morgan International Finance Limited, the controlling shareholder of J.P. Morgan Securities (China) Limited. This marks J.P. Morgan Securities (China) will become the first wholly foreign-owned securities company in China.
As one of the first new foreign-owned securities firms, J.P. Morgan Securities (China) shareholding structure, J.P. Morgan contributed 408 million yuan, a 51% shareholding. Shanghai Waigaoqiao Group Co., Ltd. holds 20%, Zhuhai Mylan Fund Management Co., Ltd. holds 14.3%, Beijing Lansen Investment Co., Ltd., Xinjiang Zhongwei Equity Investment Limited Partnership, Shanghai Binhe Investment Management Center (Limited Partnership) 3 small shareholders all hold 4.9%. In October 2020, Waigaoqiao transferred 20% of its shareholding to JPMorgan Chase, which increased its shareholding to 71%.
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