China says it takes note of JPMorgan chief’s sincere regret for remark

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JP Morgan CEO Jamie Dimon speaks at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, USA, November 23, 2021. REUTERS / Brian Snyder

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BEIJING, Nov.25 (Reuters) – China’s Foreign Ministry said on Thursday it took note of the regrets of JPMorgan Chase (JPM.N) chief executive Jamie Dimon for a remark he made about the Communist Party in power in the country and said he hoped the media would stop “hype.” ” the problem.

On Wednesday, Dimon said he regretted his remark at an event a day earlier that the Wall Street bank would outlast the Chinese Communist Party (CCP), acting quickly to try to avoid any fallout to more. long term.

“I have taken note of the information on how the person involved has sincerely thought about it. I think this is the right attitude. I hope the media involved stop hype about this issue,” he said. Foreign Ministry spokesman Zhao Lijian at a regular daily briefing in response to a question.

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Dimon’s remark has been a hot topic in Hong Kong financial circles with bankers surprised the JPMorgan boss is making the comments given the sensitivity of relations with China.

Chinese experts in the United States, however, said Dimon’s swift apology should ensure that no serious damage has been done to the bank’s long-term ambitions.

On Tuesday, in a series of interviews with the CEO of Boston College, Dimon said, “I made a joke the other day about the Communist Party celebrating its 100th anniversary – JPMorgan too. the bet that we last longer. “

“I can’t say that in China. They’re probably listening anyway,” he said.

On Wednesday, Dimon and JPMorgan issued two statements to downplay the potential fallout.

“I regret and should not have made this comment. I was trying to highlight the strength and longevity of our business,” Dimon said in a statement released by the bank.

In a second statement later released by the bank, Dimon said: “It is never fair to joke or denigrate a group of people, be it a country, its leaders or any party. of a society and a culture. “

JPMorgan has strong ambitions for growth in China, where it obtained regulatory approval in August to become the first full-fledged foreign owner of a securities brokerage firm. It gained approval in front of its American rival Goldman Sachs (GS.N), which was to be the first to take full ownership of a securities firm on the continent.

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Reporting by Yew Lun Tian; Additional reporting by Scott Murdoch in Hong Hong; Writing by Tony Munroe; Editing by David Clarke

Our Standards: The Thomson Reuters Trust Principles.


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