Wall Street Wants To Get Bigger In China
(CNN Money) —Where are the real opportunities for growth on Wall Street? Try China. The biggest financial firms haven’t tried to hide their ongoing ambitions to grow in the world’s fastest-growing economy. Earlier this month, JPMorgan Chase (JPM, Fortune 500) struck a joint venture deal with China’s First Capital Securities to underwrite stocks of domestic firms. Rivals including Citigroup (C, Fortune 500) and Bank of America (BAC, Fortune 500) are also believed to be eyeing expansion plans within China.
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