Global financial services behemoth JPMorgan Chase (JPM) CEO Jamie Dimon said at the annual conference in Shanghai yesterday that the bank will continue to “deepen its engagement with China’s capital markets.” Dimon’s bullish stance comes as the U.S. and China have de-escalated their trade war. The news was first reported by China’s Xinhua News Agency, following Dimon’s meeting with China’s top trade negotiator, He Lifeng.
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Dimon Bullish on U.S.-China Trade Relations
Dimon added that JPMorgan will continue to better serve domestic Chinese companies seeking expansion opportunities, as well as multinational companies operating in China. Additionally, the report noted that Dimon made positive comments about the U.S-China trade relations, saying that the talks between the two nations had seen “substantiative progress.” Despite the de-escalation, China remains unhappy about the U.S.’ continued chip restrictions.
Meanwhile, the report quoted Lifeng as saying that China hopes American companies will “continue contributing to the healthy, stable and sustainable development of China-U.S. economic and trade relations.” JPMorgan has a fully established securities business on the mainland, along with its own futures business, and an asset management arm.
Moreover, in an interview with Bloomberg TV yesterday, Dimon said that JPMorgan is a “long-term investor” in China and is not pulling back. He also praised China’s automobiles and artificial intelligence (AI) sectors, saying “they’ve done a pretty good job,” and added that the U.S. will have to compete with China. Dimon is also optimistic about the bank’s operations in other parts of Asia, including Japan and India. In the first quarter of Fiscal 2025, the APAC region contributed 13% of total revenue, marking a 22.3% year-over-year increase.
Is JPM Stock a Good Buy Right Now?
Analysts remain divided on JPMorgan’s long-term stock trajectory. On TipRanks, JPM stock h as a Moderate Buy consensus rating based on 14 Buys and seven Hold ratings. Also, the average JPMorgan Chase price target of $278.32 implies 6.8% upside potential from current levels. Year-to-date, JPM stock has gained nearly 10%.
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