In a statement the banker said: “I regret and should not have made that comment. I was trying to emphasise the strength and longevity of our company.” On Tuesday Mr Dimon told a panel discussion: “The Communist Party is celebrating its 100th year. So is JPMorgan. And I’ll make you a bet we last longer.”
He also said he wouldn’t have been able to say that in China, adding: “They are probably listening anyway.”
A spokesperson for JP Morgan said Mr Dimon: “Acknowledges he should not speak lightly or disrespectfully about another country or its leadership.
“He strongly supports a constructive and detailed economic dialogue with China.”
There has been no public reaction from Beijing so far but the remark is unlikely to have been well received.
In 2018 he claimed he could beat then President Donald Trump in an election as he was smarter and had earned his own money.
He subsequently admitted he “shouldn’t have said it” adding that it proved he “wouldn’t be a good politician”.