JPMorgan has recently gained the approval together with an earned licensure to underwrite China’s corporate bonds in its interbank bond market – a first in the history as the company was the first U.S Bank to do so.

China is the third largest bond market in the world with 43.7 trillion yuan, which is 6.3 trillion in dollar value, outstanding just as the last year concluded. China also has over 90% as its interbank bond market financial status, as cited by China Central Depository & Clearing in a statement.