JPMorgan China opens Chengdu branch

Sep. 11, 2009 (China Knowledge) - JPMorgan Chase Bank (China), announced on Thursday that its Chengdu branch, the fifth one in mainland China after Beijing, Shanghai, Tianjin, and Guangzhou, started operation,

The new branch will offer customers with a broad range of financial products and services, including cash management in RMB and foreign currency, trade finance, liquidity management, risk management, foreign exchange, and investment banking, according to the report.

The opening of the Chengdu branch is in line with JPMorgan's strategy of expanding into Southwest China, one of China's fastest growing region.
 
Gaby Abdelnour, chairman and CEO of JPMorgan Asia Pacific said the office had the potential to achieve strong growth.

"The opening in Chengdu demonstrates our commitment to China, especially the southwest with huge potential. It also will help our bank set solid foundation in this region and continue to maintain the vigorous momentum”, he added.