JPMorgan has applied to take full control of its securities joint venture in China, in the latest example of a US bank expanding its foothold in the country’s financial markets.
The bank said on Thursday that it had handed in an application to Chinese regulators to purchase 100 per cent of the business, up from its current 71 per cent.
The move comes after a period in which some of Wall Street’s biggest names have sought to increase their presence across China’s rapidly liberalising financial markets, despite worsening geopolitical tensions between Beijing and Washington.
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