JPMorgan sees more deals in China

JPMorgan expects to see more deals and new business in China this year, particularly as new energy and natural resources companies aim to go public to finance rapid expansion, the bank's China boss said.

Industry consolidation is also expected to take place in the new energy sector, including wind and solar power suppliers, said Fang Fang, China Chief Executive Officer of JPMorgan, providing more room for banks to compete for rich advisory fees.

"We're building up our deal pipeline nicely from the start of this year, and I expect that deal volume to increase from last year," he said on the sidelines of the Chinese People's Political Consultative Conference (CPPCC). Fang, who was appointed to his current post in 2007, is a delegate to the CPPCC, China's top political advisory body.

"JPMorgan has placed very significant focus on China... We want to provide multiple lines of services, not just investment banking but also something like corporate banking, asset management, commodities and carbon trading," said Fang.

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