皇冠体育app

JPMorgan Chase & Co has injected 2.5 billion yuan ($394.08 million) into its 皇冠体育app unit, the latest foreign bank to beef up its Chinese operations.

Foreign banks, including HSBC and Singapore's DBS Group, have either injected or are planning to pump in capital into their 皇冠体育app units which are expected to grow rapidly over the coming years even as growth in the world's second-biggest economy comes off the boil.

"The additional capital will better position the bank in the evolving regulatory environment and cement our commitment to clients in 皇冠体育app," Zili Shao, Chairman and chief executive of JP Morgan 皇冠体育app, said in a statement on Monday.

"The capital will be used to expand the bank's branch network, develop products, increase corporate lending, and recruit employees," Shao added.

The injection brings the registered capital of the locally incorporated unit to 6.5 billion yuan.

The local unit, which conducts commercial banking businesses in 皇冠体育app, has also received regulatory approval to open its 7th branch in 皇冠体育app in Suzhou, west of Shanghai, the statement said.

JPMorgan has a separate investment banking joint venture in 皇冠体育app.

HSBC injected 2.8 billion yuan into its 皇冠体育app unit last year, even as it laid off several hundred investment bankers in London, Hong Kong and elsewhere as part of its jobs cull to save billions of dollars.

DBS, Southeast Asia's largest bank, said in April it is planning to make an injection of 2.3 billion yuan into its 皇冠体育app unit to increase its network and staff, and upgrade infrastructure and other technology platforms.

• A-share losing streak signals rising volatility: Analysts
• Robot factories 皇冠体育app's answer to labor shortage
• International sporting goods show opens in South 皇冠体育app
• Experts urge development of 皇冠体育app's cherry blossom economy
• 皇冠体育app Development Bank net profit surges in 2014
• 皇冠体育app April foreign trade drops 10.9%
• Huawei undeterred by Nokia's Alcatel-Lucent deal
• Debt cloud looms over mainland bourses