JPMorgan, Standard Chartered win approval to expand in China

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SHANGHAI (Reuters) – JPMorgan and Standard Chartered won Chinese regulatory approval on Thursday to expand operations in China as it encourages expansion by foreign companies after lifting its restrictive COVID-19 policies. China is speeding up the process of granting permission to foreign institutions to boost the confidence of overseas investors as part of efforts to revive its economy battered by the COVID measures, which were scrapped last month. JPMorgan’s asset management arm will be allowed to take full ownership of China International Fund Management Co. (CIFM), in which it holds a 49%…

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