December 7, 2021
JPMorgan's Dimon regrets joke about Chinese Communist Party

JPMorgan’s Dimon regrets joke about Chinese Communist Party

NEW YORK — JPMorgan Chase CEO Jamie Dimon mentioned Friday that “he truly regrets” a quip he made this week about JPMorgan outlasting the Chinese Communist Party.

Dimon was talking at an occasion in Boston the place he mentioned, “I used to be simply in Hong Kong and I made a joke that the Communist Party is celebrating its one centesimal 12 months. So is JPMorgan.”

Many giant U.S. banks have operations in China, and their capacity to do enterprise there and the way profitable they’re is commonly on the whim of the Chinese authorities.

Dimon traveled to Hong Kong simply final week as a part of a tour of JPMorgan’s operation in Asia, his first journey there for the reason that pandemic. Dimon acquired a particular Hong Kong authorities waiver to COVID-19 quarantine protocols as a part of his journey.

A JPMorgan spokeswoman mentioned that the financial institution stays dedicated to doing enterprise in China.

Dimon is thought for talking his thoughts, with few filters in between. However he mentioned he regretted the feedback he made about China.

“It’s never right to joke about or denigrate any group of people, whether it’s a country, its leadership, or any part of a society and culture,” he mentioned in an announcement.

“I used to be attempting to emphasise the energy and longevity of our firm,” he added in a separate assertion.

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