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JPMorgan's Dimon regrets joke about China's Communist Party

MarketWatch logo MarketWatch 11/24/2021 Steve Gelsi
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MARKET PULSE

JPMorgan Chase & Co. CEO Jamie Dimon told an audience he made a joke about his bank outlasting the Communist Party while in Hong Kong, according to a video seen by The Wall Street Journal. "I was just in Hong Kong and I made a joke that the Communist Party is celebrating its hundredth year. So is JPMorgan. I'd make you a bet we last longer," Dimon said in the video. "I can't say that in China. They probably are listening anyway," he said while laughing, the newspaper reported on Wednesday. Dimon recalled the moment in response to an audience question about doing business in China at an event Tuesday at Boston College. Chinese Foreign Ministry spokesman Zhao Lijian sidestepped a question about Dimon's remarks at a daily news conference in Beijing and dismissed media reports of it as an attempt to draw readers. "I regret and should not have made that comment," Dimon said Wednesday. "I was trying to emphasize the strength and longevity of our company." Dimon traveled to Hong Kong last week. The bank has 4,000 employees there.

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