JPMorgan Chase Still Upbeat On Hong Kong

HONG KONG – JPMorgan Chase’s CEO Jamie Dimon said he will not be deterred by geopolitical issues in doing business in the Chinese territory, reported The Financial Times on Monday (15 November, SGT).

He said he’s “not swayed by geopolitical winds” he told the news outlet after landing in Hong Kong, becoming the first boss of a major Wall Street investment bank to visit greater China since the onset of the virus outbreak.

Dimon’s visit on Monday coincided with the virtual meeting between Chinese leader Xi Jinping and US President Joe Biden. The heads of the two countries attempted to repair their ties despite fears over Beijing’s military activity near Taiwan and its mounting nuclear arsenal.

“I am optimistic they will work out rational plans,” Dimon said in an interview with The Financial Times.

Aside from that, he underscored that it is “very important” for him to spend time in Hong Kong, which houses the Asia Pacific headquarters of multinational bank JPMorgan Chase.

“I would have come earlier…  It is very important for me to see our people,” he explained.

JPMorgan Chase said Dimon visited Hong Kong to express his gratitude to employees for their work during the COVID-19 pandemic. Another objective is to meet with government regulators.

Notably, It was Dimon’s first visit to the Chinese territory in 2.5 years. Interestingly, he was exempted from Hong Kong’s stringent quarantine policy for incoming visitors.