The Spaniard has scored 10 goals in 15 Premier League games since joining the Swans from Rayo Vallecano in the summer and the club have vowed not to sell him in January
The 26-year-old has proved to be one of the bargains of the summer so far this season, finding the back of the net 10 times in 15 Premier League games for the Swans, including both goals against Arsenal in their 2-0 win over the Gunners.
Despite his eye-catching performances, the Swans' chairman Jenkins is confident that the South-Wales club will hang on to the Spaniard, explaining that the club are looking to add to what they have rather than sell their best players.
"We'll be looking to strengthen in January, not to weaken our squad," Jenkins told BBC Sport. "We'll make every attempt to make sure that happens."
Michu's ten goals this season see him leading the Premier League goalscoring charts alongside established strikers Demba Ba, Robin van Persie and Luis Suarez, and Jenkins is delighted at how well and quickly his new signing has settled in.
"We felt we had him [Michu] at good value and with his goalscoring it's proved to be a good decision," he said. "We're very pleased with that one."
Micheal Laudrup brought Michu to the Liberty Stadium from Spanish outfit Rayo Vallecano for £2 million last summer.