J.P. Morgan Chase: China's economy is fully recovering and has seen “very good momentum”

The Zhitong Finance App learned that Rita Chan (Rita Chan), J.P. Morgan's China co-senior official, said that as the global tariff system drives portfolio transformation and the expansion of Chinese companies overseas, the company has seen widespread recovery in China, and foreign investors seeking diversified investments are also becoming more and more interested. In an interview, Jenny Chan said, “The developments over the past 12 months have definitely been encouraging. We are seeing a broad recovery in liquidity in scale.”

Over the past few years, J.P. Morgan Chase has adjusted its leadership and scaled back its operations in mainland China and Hong Kong. J.P. Morgan acknowledged that the expansion took longer than expected, although CEO Jamie Dimon said he would keep his promises. Now, with increased stock sales in Hong Kong and mainland China, there are signs that business is improving. The market also rebounded after Beijing and Washington reached a 90-day suspension agreement on some of the highest tariffs.

She said that J.P. Morgan has seen “very good momentum”. The trend of local Chinese corporate customers going overseas and internationalization has not changed, and the cross-border services needed to cope with this complex environment are definitely increasing. J.P. Morgan Chase has invested significant resources to expand its business in China, and is the only Wall Street bank to fully control its futures, securities, and asset management business in China in just three years.

The bank is also optimistic about the rest of Asia. J.P. Morgan Asia Pacific CEO Sjoerd Leenart said in an interview that the region's growth is expected to be much higher than the global average, and Japan has “huge opportunities.” Leenart said that in India, “the current leadership has convinced investors that they will continue to follow the same path”. Despite this, since the country's economy is far smaller than China's, “there is still a long way to go.” J.P. Morgan's net revenue from the Asia Pacific business last year was US$12 billion, up 13% from 2023.