JPMorgan's Dimon Says China Has Made `Huge Progress' on Reforms
(Bloomberg) -- JPMorgan Chase & Co.'s Chief Executive Officer Jamie Dimon said China has made “huge progress” on market reforms and he would like to increase his firm's businesses in the nation.
The New York-based JPMorgan is hoping to get a corporate bond license in China and would consider another joint venture in Asia's biggest economy, Dimon said in an interview with Bloomberg Television's Stephen Engle in Beijing. As China's leaders remain on track with financial and trade reforms, Dimon said he sees full yuan convertibility in the next five to 10 years.
Dimon, 61, said in a Bloomberg Television interview last month he remains optimistic about the global economy and the prospects for regulatory reform under U.S. President Donald Trump. He said Japan is growing faster than it has in 15 years, Europe is “doing well,” and that America is “chugging along.”
Jamie Dimon.
In April, JPMorgan beat analysts' first-quarter profit estimates on better-than-expected trading results and lending margins. Trading revenue rose for a fourth quarter, the longest streak in at least a decade, with a 17 percent advance in fixed income and a surprise increase for equities. “It will be hard to gain” further share in fixed income, Dimon said last month.
To contact the reporter on this story: Darren Boey in Hong Kong at dboey@bloomberg.net.
To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Paul Panckhurst
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
