Wall Street Weapon
For a long time, Wall Street and European banks have not been allowed to take full ownership in Chinese security ventures in the country. Earlier this year, Beijing had a serious change of heart.
JPMorgan & Chase Co has now taken a step into becoming the first foreign bank to secure full ownership of a Chinese securities firm after it raised it stake in its Chinese securities joint venture to 71%. The big bank purchased a 20% stake and was sold to them by Shanghai Waigaoqiao FTZ for $26.6 million USD.
Wall Street firms have been adding staff and have begun planning for expansion as they look to take advantage of new company control rules to be able to better set strategy and direct capital into China’s $50 trillion-dollar financial market.
For Wall Street, the opportunity to make huge plays in the world’s most populous country is not one that will be taken lightly. With that being said, which Wall Street Banks do you think is best positioned to take advantage?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.