JPMorgan Chase plans to expand its asset management business in China, launching an ETF tracking the CSI A50 Index in 2024.

JPMorgan Chase & Co. plans to continue hiring in China to expand its asset management business in the world's second-largest economy. JPMorgan Asset Management China CEO, Desiree Wang, remarks that China's mutual fund industry remains an "irreplaceable growth market" for global asset managers. JPMorgan plans to launch an ETF tracking the CSI A50 Index in 2024, which raised 2 billion yuan ($278m) in less than 10 days. As investors shift investments beyond real estate, China's mutual fund industry is expected to grow.

March 12, 2024
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