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mained undeterred in its rise from 2% to 5.4%. A stronger currency would help curb some of the inflation imported from other countries: according to J.P. Morgan's Greater China Economics team, every 1% of appreciation lowers headline inflation by about 10.12 bp per year. As inflation continues to grind higher
tion has been prepared for information purposes only. Nothing in this material is intended to be a solicitation for any product Cf service offered by J.P. Morgan's Private Bank or any of its affiliates. Information contaked herein has been obtained from sources believed to be reliable but we do not guarantee it
icials in China strengthened our conviction for a stronger RMB and we believe investors should be positioned to take advantage of this. Both Premier Wen Jiabao and the PBOC Govemor Zhou Xiaochuan have recently talked about using the currency as another tool with which to fight inflation. Since 2009. the PBO
JP Morgan China (JPMC) Summary• JPMC will become the leading China focused investment business, combining expertise with access in China, Europe and the US. A ful
e Shanghai development plan has been completed. The former leadership (Jiang Zemin and Zhu Rongji) are the Shanghai clique; the current leadership (Wen Jiabao and Hu Jintao) are focused on the North East and the West of China. The next leadership will most certainly come from the West of China. London Th
n has been prepared for information purposes only. Nothing in this material is intended to be a solicitation for any product or service offered by . Morgan's Private Bank or any of its affiliates. Information contained herein has been obtained from sources believed to be reliable but we do not guarantee its accuracy o
icials in China strengthened our conviction for a stronger RMB and we believe investors should be positioned to take advantage of this. Both Premier Wen Jiabao and the PBOC Governor Zhou Xiaochuan have recently talked about using the currency as another tool with which to fight inflation. Since 2009, the P
Entities connected to both JPMorgan Chase and Wen Jiabao

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