China takes note of regret from JPMorgan CEO

China takes note of regret from JPMorgan CEO
China takes note of regret from JPMorgan CEO

BEIJING (Reuters) – China’s Foreign Minister on Thursday said he took note of the regret expressed by JP Morgan Chase & Co chief executive Jamie Dimon for his comments on the Chinese Communist Party, and that he hoped the media would stop “amplifying” this case.

“I have taken note of the information that the person in question had sincerely thought about it. I think this is the right attitude. I hope the relevant media will stop exaggerating this issue,” said the spokesperson for the Foreign Ministry Zhao Lijian at a press briefing in response to a question.

Jamie Dimon said on Wednesday he regretted his comments the day before that the US bank would still be standing when the Chinese Communist Party is gone.

Jamie Dimon’s remark sparked heated controversy in Hong Kong financial circles, with bankers surprised that he could make such comments given the difficulties in establishing and maintaining a good relationship with China.

China experts in the United States, however, said the JPMorgan boss’s quick apology should avoid serious damage to the bank’s long-term ambitions.

JPMorgan, which has big ambitions as the world’s second-largest economy, received clearance in August from Beijing to become the first full-fledged foreign owner of a securities brokerage firm in the country.

(Report Yew Lun Tian with the participation of ScottMurdoch in Hong Kong, written by Tony Munroe; French version Valentine Baldassari, edited by Jean-Michel Bélot)

 
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