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China says it notes JPMorgan chief’s sincere regret over remark

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

BEIJING, Nov 25 (Reuters) – China’s foreign ministry on Thursday said it noted JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon’s expression of regret for a remark he made about the country’s ruling Communist Party and said it hoped media would stop “hyping” the issue.

On Wednesday, Dimon said he regretted his remark at an event on Tuesday that the Wall Street bank would last longer than China’s Communist Party (CPC), moving quickly to avoid any longer-term fallout.

“I noted the reports about how the individual involved has sincerely reflected. I think this is the right attitude. I hope the media involved will stop hyping this issue,” foreign ministry spokesman Zhao Lijian told a regular daily briefing in response to a question.

Dimon’s comments had risked jeopardising 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, however, that 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.

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Reporting by Yew Lun Tian; Writing by Tony Munroe; Editing by David Clarke

Our Standards: The Thomson Reuters Trust Principles.

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Source: Reuters

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