JPMorgan will outlive China Communist Party, jokes boss

The boss of Wall Street giant JPMorgan has taken a swipe at the Chinese Communist Party, breaking an unspoken rule among business leaders ensuring they keep schtum on Beijing.

Jamie Dimon, 65, joked that the investment bank will outlive the Communist Party, which was founded in 1921.

JPMorgan first entered China in the same year.

“I made a joke the other day that the Communist party is celebrating its hundredth year. So is JPMorgan. I’d make a bet that we last longer,” Dimon said.

He added: “I can’t say that in China. They are probably listening anyway.”

Dimon has since apologised for making the comments.