Sources say JPMorgan Chase & Co. CEO Jamie Dimon will visit mainland China for the first time in four years this month, the latest in a string of visits by prominent foreign financial leaders since COVID-19 restrictions were lifted.
Four individuals with intimate knowledge of the situation said the travel coincides with JPMorgan (JPM.N) hosting three conferences in Shanghai at the end of the month.
Dimon’s first visit to mainland China since the epidemic began in 2020 and shuttered the world’s second-largest economy for over three years with some of the world’s strictest restrictions.
Two sources said JPMorgan will hold the Morgan Tech Exchange, China New Economy Forum, and Global China Summit in Shanghai this month.
Since the information is private, the sources requested anonymity.
One source claimed Dimon would attend conferences and internal and external meetings. Two sources said he would visit Hong Kong in early June after Shanghai.
Dimon spoke with colleagues and clients in Hong Kong in November 2021.
JPMorgan’s Hong Kong spokesman declined to comment on Dimon’s travel to mainland China and Hong Kong.
JPMorgan’s wholly-owned securities venture in China provides underwriting and advisory services. Wall Street Bank bought 100% of its funds management joint venture in January.
Funds company approval took almost two years.
One source indicated that about 1,500 international investors will attend the Global China Summit, indicating that overseas investors are still keen on purchasing into China following its January reopening from its “zero-COVID” policy.
Wall Street and European financial giants have increased their presence in China through new set-ups and joint-venture alliances.
As President Xi Jinping’s term began, a flurry of top financial executives visited China for the first time since the COVID-19 pandemic.
Goldman Sachs (GS.N) CEO David Solomon, HSBC (HSBA.L) CEO Noel Quinn, and Standard Chartered (STAN.L) CEO Bill Winters met with Chinese officials and regulators.
