US bank JP Morgan's China Co-CEO, Chen Yanni, told American media that the company notices a broad recovery in the Chinese economy, and foreign investors seeking diversification are increasingly interested in China.
Chen Yanni said in an interview with Bloomberg at the Global China Summit held in Shanghai: “The developments over the past 12 months have indeed been encouraging.” The Global China Summit hosted by JP Morgan is held in Shanghai from the 22nd to the 23rd of this month.
Chen Yanni also pointed out that foreign direct investment in China has increased, and both liquidity and investment volumes have broadly recovered.
The bank has reorganized its leadership in recent years, reducing its operations in China and Hong Kong, and admitted that the time required for expansion is longer than expected.
Bloomberg reports that overall, Wall Street firms are implementing plans to withdraw their China market presence, with overall risk exposure, including loans, trading, and investment, decreasing by about 20%.