Mr Dimon made the joke at an event in Boston at which he answered questions about his company’s relationship with China, security issues in Hong Kong and the country’s tension with Taiwan, according to Bloomberg.
“I was just in Hong Kong and I made a joke that the Communist Party is celebrating its hundredth year. So is JPMorgan. I’d make you a bet we last longer,” said Mr Dimon at the Boston College event.
“I can’t say that in China. They probably are listening anyway.”
Mr Dimon’s bank reportedly has $20bn invested in China and has expansion plans in the country, and he walked back the comment on Wednesday.
“I truly regret my recent comment because it’s never right to joke about or denigrate any group of people, whether it’s a country, its leadership, or any part of a society and culture,” he said in a statement.
“Speaking in that way can take away from constructive and thoughtful dialogue in society, which is needed now more than ever.”
Zhao Lijian, a Chinese Foreign Ministry spokesman, played down the comments at his press briefing, reported Bloomberg.
“Is it really necessary to cite such remarks that are merely to attract people’s attention?” he said.