Following China's relaxation of the rules for foreign financial players, JPMorgan Chase & Co said it is growing the headcount of its China-focused business and reorganizing its investment banking teams to better reflect the country's economy. JPMorgan said it would increase the headcount of its China investment team by 40 to 50 per cent over the next two to three years, without disclosing the team's current size. Chinese website Caixin has learned that UBS Group AG is also on a recruitment drive in the country.