JPMorgan and first venture set up joint venture securities companies in China

JPMorgan and first Venture Securities Limited 9th jointly announced that the two sides signed an agreement to set up a joint venture securities company operating in China's domestic securities market.　　The company has yet to be approved by regulators.　　The joint venture will underwrite the Chinese market, where the first venture will have a 67% per cent stake in the joint venture and JPMorgan will have the remaining 33% per cent, and the two sides signed a memorandum of cooperation this March. The JPMorgan Group manages assets of $2.1 trillion trillion and operates in more than 60 countries across the world, involving investment banking, consumer financial services, small business and commercial banking services, financial transaction processing, asset and wealth management, and private equity investment.　　In the Asia-Pacific region, JPMorgan has 26 branches in 15 countries and has a history of nearly 160 years of wholesale banking operations in the region. The first venture securities headquarters located in Shenzhen, formerly Foshan Securities Limited Liability company, was established April 26, 1993, the original registered capital of 10 million yuan.　　2002, the company increased to 747 million yuan, registered to move to Shenzhen, and renamed as the first venture Securities, 2008, the company's registered capital of 1.59 billion yuan, in the country 12 cities with branch offices. At present, a total of more than 10 domestic joint-venture securities companies, UBS, Goldman Sachs, Credit Suisse, Deutsche Bank and other international investment banks have set up a joint venture securities companies in China. The goal of setting up a joint-venture securities firm has been proposed, and Macquarie and HSBC Holdings have said they are looking for partners to establish investment banking in China. Royal Bank of Scotland, Citigroup and other groups have expressed the desire to enter the Chinese securities business.