By Yew Lun Tian and Scott Murdoch and Tony Munroe
BEIJING (Reuters) – China’s Foreign Ministry said on Thursday it had noted JPMorgan chief executive Jamie Dimon’s expression of regret for a comment he made about the Communist Party and said he hoped the media would stop. of “exaggerating” the question.
On Wednesday, Dimon said he regretted his comment at an event the day before that the Wall Street bank would outlast the Communist Party of China, moving quickly to try to avoid any long-term crisis.
“I looked at the accounts of how the individual involved sincerely reflected. I think this is the right attitude. I hope the media involved will stop exaggerating this matter,” Foreign Ministry spokesman Zhao Lijian said at a regular daily briefing in response to a question.
China experts in the United States, however, said Dimon’s quick apology should ensure that no serious damage is done to the bank’s long-term ambitions.
In a series of interviews with presidents of corporations sponsored by Boston College on Tuesday, Dimon said: “I made a joke the other day, that the Communist Party is celebrating its 100th year – as is JPMorgan. I’d bet we’ll last longer.”
“I can’t say that in China. But they’re probably listening to it anyway,” he concluded.
On Wednesday, Dimon and JPMorgan issued two statements to downplay the potential consequences of the comments.
“I’m sorry and I shouldn’t have made that comment. I was trying to emphasize the strength and longevity of our company,” Dimon said in a statement released by the bank.
Later, Dimon said: “It is never right to make jokes or denigrate any group of people, be it a country, its leadership or any part of a society and culture.”
JPMorgan has big growth ambitions in China, where it gained regulatory approval in August to become the first foreign owner of a stockbroker.
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