JPMorgan Says China Growth Takes Longer, Eyes Japan Market
- Bank’s APAC CEO says to invest more in Japan and Australia
- US bank says China is “longer journey than we would wish”
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JPMorgan Chase & Co. said the bank’s China expansion is taking longer than expected, as it gears up to invest more in the Japanese and Australian markets to take advantage of growth potential.
“In the current macroeconomic environment, we believe for a variety of different reasons that those two countries offer incredible opportunities over the coming few years,” JPMorgan’s Asia-Pacific Chief Executive Officer Filippo Gori said in a Bloomberg TV interview at the bank’s annual Global China Summit in Shanghai on Wednesday. “We continue to look at investing further in both Japan and Australia.”