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JP Morgan opens branch in Guangzhou

By Caimuyuan (chinadaily.com.cn)
Updated: 2009-05-08 18:03

JP Morgan Chase established a branch in Guangzhou on May 4, the fourth branch of the bank on the Chinese mainland, the China Securities Journal reported on Thursday.

The Guangzhou branch aims at becoming the hub of JP Morgan's business expansion in the the Pearl River Delta region.

The bank will also provide local and multinational corporations as well as financial institutions with a wide range of wholesale financial services including cash management, trade financing, liquidity and risk management, foreign exchange trading and investment banking service.

"The launch of the Guangzhou branch will help JP Morgan maintain the rapid growth momentum since it was incorporated in China in 2007" said Du Qiming, chairman and CEO of JP Morgan in the Asia-Pacific region.

Li Tuo, president of JP Morgan (China) Co Ltd said that an emporium like Guangzhou plays an important role in China's trade and manufacturing industries. "The Guangzhou branch will serve the increasing financial needs of our clients in the region," Li added.

The other three branches of JP Morgan on the Chinese mainland are located in Beijing, Shanghai and Tianjin.