In the News: JPMorgan Mutual Fund Buyout; Luckin Coffee's Phony Sales; and US Tech Export Restrictions

April 06, 2020 | BY

Vincent Chow

JPMorgan set for full control of asset management business with minority partner buyout; Luckin Coffee reveals financial fraud amid growing concern over Chinese listings; and the U.S. set to ramp up tech export restrictions for China, report says.

JPMorgan agrees mutual fund buyout following foreign ownership limit removal

JPMorgan is set to become the first foreign firm to take full ownership of a local asset management business in China, pending regulatory approval by the China Securities Regulatory Commission (CSRC). The U.S. investment bank has reached an agreement with its local partner, Shanghai International Trust, to acquire its 49% stake in their joint-venture (JV), China International Fund Management (CIFM).

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