Home Economy JPMorgan CEO takes back joke about China’s Communist Party | Economy

JPMorgan CEO takes back joke about China’s Communist Party | Economy

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JPMorgan Chase Chief Executive Officer Jamie Dimon said on Wednesday that he regretted his remarks that the Wall Street bank would last longer than China’s Communist Party, moving quickly to avoid any long-term fallout.

Dimon’s comments had risked jeopardizing JPMorgan’s growth ambitions in China where it won regulatory approval in August to become the first full foreign owner of a securities brokerage in the country. China experts in the United States said his quick apology should ensure no serious damage was done.

“I regret and should not have made that comment. I was trying to emphasize the strength and longevity of our company,” Dimon said in a statement issued by the bank.

In a later statement, Dimon said: “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. Speaking in that way can take away from constructive and thoughtful dialogue in…

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