JPMorgan CEO Says His Bank Will Outlast China’s Communist Party

JPMorgan Chase’s chief executive officer Jamie Dimon joked that his bank will last longer than the Chinese Communist Party (CCP) on Tuesday, while he reiterated the bank’s commitment to doing business in China. “I made a joke the other day that The Communist Party is celebrating its 100th year—so is JPMorgan,” Dimon said during a panel discussion at the Boston College Chief Executives Club. “I’d make a bet that we last longer.” Dimon added: “I can’t say that in China. They are probably listening anyway.” The bank has been operating in China since 1921, the same year the CCP was founded there. The business community should have taken China-related issues more seriously a decade ago, Dimon said, citing trade tensions and the suppression of Hong Kong. Still, JPMorgan can’t cut business ties with a country just because it disagrees with a policy, he added, noting that the biggest U.S. bank also has …

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