JPMorgan’s Dimon regrets joke about Chinese Communist Party

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JPMorgan Chase CEO Jamie Dimon said Friday that he “really regrets” that he took a jibe about JPMorgan touting the Chinese Communist Party this week.

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NEW YORK – JPMorgan Chase CEO Jamie Dimon said Friday that he “really regrets” he took a quip about JPMorgan touting the Chinese Communist Party this week.

Dimon was speaking at an event in Boston where he said, “I was just in Hong Kong and I joked that the Communist Party was celebrating its 100th year. So is JP Morgan.”

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Many large US banks have operations in China, and their ability to do business there and how successful they are is often at the behest of the Chinese government.

Dimon only traveled to Hong Kong last week as part of a tour of JP Morgan’s operations in Asia, his first visit since the pandemic. Dimon received a special Hong Kong government exemption to the COVID-19 quarantine protocol as part of his visit.

A JPMorgan spokesperson said the bank remains committed to doing business in China.

Dimon is known for speaking his mind, with a few filters in between. But he said he regretted the comments made about China.

“It is never right to joke about or defame any group of people, be it the country, its leadership or any part of the society and culture,” he said in a statement.

“I was trying to emphasize the strength and longevity of my company,” he added in a separate statement.

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