JPMorgan inches closer to taking 71% of China securities JV
FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith/File Photo
BEIJING - JPMorgan has first right to buy a 20% stake in its Chinese securities joint venture from one of its local partners for 177.7 million yuan , a filing by the partner showed on Thursday. The state-owned Shanghai Waigaoqiao FTZ is selling its stake in the joint venture, which made a net loss of 86.8 million yuan in 2019, according to its filing on the Shanghai United Assets and Equity Exchange.
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