After all of the ongoing press, like the recent $13 billion settlement with regulators, J.P. Morgan [profile] now has some seemingly positive news.

The Wall Street Jurnal reports that the financial conglomerate has received approval from the Chinese government to sell mutual funds on the mainland. The paper notes that the firm is the first wave of foreign banks allowed to compete with local financial concerns in this sector. 

Edited by: Tommy Fernandez


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