JPMorgan Chase chief executive Jamie Dimon has joked that his bank would last longer than the Chinese Communist Party. While reiterating his bank's commitment to doing business in China, Dimon said: "I made a joke the other day that the Communist Party is celebrating its 100th year - so is JPMorgan. JPMorgan has been operating in China since 1921, the same year the Communist Party was founded there. In August, it won regulatory approval to become the first full foreign owner of a securities brokerage in China. Global executives typically choose their words carefully when discussing China, where foreign companies have occasionally been subject to backlash for perceived offenses.

Source: The Standard November 25, 2021 07:16 UTC