Date
18 October 2017

JP Morgan unit seeks quota to invest in China, WSJ says

JF Asset Management Ltd., a J.P. Morgan Chase subsidiary, is applying for a 1 billion yuan (US$164 million) quota to invest in China’s capital markets under the Renminbi Qualified Foreign Institutional Investor (RQFII) program, the Wall Street Journal reported Wednesday. The proposed investment represents the highest quota granted to RQFII participants, a company official was quoted as saying. The company, an investment arm of J.P. Morgan Asset Management, obtained the license in late October to invest in the country’s stocks and bonds with renminbi raised overseas, the report said.

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