JPMorgan Takes Full Control of Chinese Mutual Fund Joint Venture
- New York bank buys out partner Shanghai International Trust
- China lifted share restrictions for foreign firms on April 1
Photographer: Nicolas Economou/NurPhoto via Getty Images
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JPMorgan Chase & Co. agreed to buy out its local partner to get full control of a Chinese mutual fund joint venture, taking advantage of the latest move by Beijing to open up the nation’s asset management and securities businesses to foreign firms.