Jamie Dimon says JPMorgan has won China’s Communist Party

Jamie Dimon, chief executive of JPMorgan Chase, joked that the Wall Street Bank would continue the Chinese Communist Party, reiterating its commitment to expanding the country.

“I joked the other day that the Communist Party is celebrating 100 years. So is JPMorgan. I’m going to make some money, “he said Tuesday, addressing a Boston College Chief Executives Club, a business conference.

“I can’t say that in China. Maybe they are still listening,” said Dimon, who is also chairman of JPMorgan.

Global business leaders who rely on working for China to make more money are cautious when commenting on Beijing. Several foreign companies such as HSBC are a law firm Mrs. Brown faced controversy in China over opposition.

In 2019, the Swiss bank UBS was excluded from the Chinese economy after one of the financial experts said “pigs in China”Which seemed offensive.

Dimon made the remarks less than a week after performing a miracle one day trip to Hong Kong, becoming the first Wall Street bank manager to come to China since the outbreak began.

JPMorgan has been active in China since 1921, the same year the Communist Party was formed. He also said that China’s growth represents a major opportunity for the bank and its customers.

Earlier this year, JPMorgan received approval from Chinese regulators to run a financial bank in the country, which was a crucial time for foreign banks to invest in China. It also operates in China-based economic integration.

Someone close to the bank said Dimon, who has been running JPMorgan since 2005 and is one of Wall Street’s most prominent figures, “is trying to emphasize JPMorgan’s longevity and power” rather than oppose the Communist Party. The bank declined to comment on the report.

Dimon’s trip to Hong Kong surprised him that the official was allowed to stay out of the city’s strict rules. JPMorgan says it will pay employees who are supposed to be private up to $ 5,000.

Referring to the conflict between the US and China, Dimon said in Hong Kong that he was “not blown away by the storm” and that he believed that world leaders had found “clear” answers.

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