Posted by on November 23, 2021 9:01 pm
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CEO Jamie Dimon jokes JPMorgan Chase will outlast Chinese Communist Party

JP Morgan CEO Jamie Dimon and French President Emmanuel Macron, right, listen as they inaugurate the new French headquarters of JP Morgan bank Tuesday, June 29, 2021 in Paris. JP Morgan’s new trading floor is the latest example of how Brexit is changing Europe’s financial landscape since January. (AP Photo/Michel Euler, Pool) Michel Euler/AP

CEO Jamie Dimon jokes JPMorgan Chase will outlast Chinese Communist Party

Ryan King November 23, 08:26 PMNovember 23, 08:26 PM

JPMorgan Chase CEO Jamie Dimon joked during an event in Boston that his company would outlast the Chinese Communist Party.

“I made a joke the other day that the Communist Party is celebrating its 100th year — so is JPMorgan. I’d make a bet that we last longer,” Dimon said, according to Reuters. “I can’t say that in China. They are probably listening anyway.”

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Prior to merging with Chase Bank, when J.P. Morgan & Co. was a stand-alone bank, it entered the Chinese market in 1921. The company itself was founded in 1871, nearly 150 years ago. The CCP was founded in 1921 and celebrated its 100-year anniversary this past June.

During his remarks, Dimon reiterated his company’s commitment to China despite its tensions with the United States, the New York Post reported. He said his company cannot cut ties with China just because of policy disagreements, according to the outlet.

Many corporations in the U.S. have faced criticism for supporting domestic social justice causes but then staying quiet about alleged human rights abuses in China.

Last week, JPMorgan reversed a decision that one of its payment provider companies, WePay, made to refuse to do business with a conservative group.

Dimon has been vocal about certain policy causes. He has also said that he believes businesses should play a role in public policy discussions. He has been an advocate for bipartisanship and a “pro-growth agenda.”

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During an interview with Axios last October, Dimon touched on the tension between supporting human rights and doing business with China.

“We do business in 100 countries,” Dimon told Axios. “But I’ve made it very clear: We believe in human rights. We believe in free enterprise. We believe in the capitalist system. That’s all counter to China.”

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