Shanghai Party Secretary Han Zheng met Jamie Dimon, chairman and CEO of JP Morgan Chase & Co., in the city last week.
Han said the Shanghai Free Trade Zone is carrying out reform and innovation, including financial innovation, and has implemented 40 financial reform measures based on the guidelines of the central government with an emphasis on risk control.
He said JP Morgan Chase has developed well in Shanghai and other parts of China. The Shanghai government welcomes the New York-based banking and financial services company to operate in the zone.
Shanghai hopes more domestic and foreign financial institutions in the FTZ can help formulate market rules that fit the Chinese conditions as well as international practices and enhance the ability of the Chinese financial market to prevent risks, Han added.
Dimon said JP Morgan Chase has enjoyed good cooperation with Shanghai. The company will focus more on the China market and offer more professional services to Chinese companies wishing to invest overseas as well as multinationals wishing to enter the China market.
He said JP Morgan Chase will achieve further development in Shanghai and will uphold its standards in business. The company wants to be a good corporate citizen and make a big contribution to the Shanghai FTZ and the Chinese capital market.
Shen Xiaoming, the Party secretary of Pudong New Area, also joined the meeting.
