JPMorgan Chase Chief Executive Jamie Dimon said on Wednesday he regretted his remarks that the Wall Street bank would last longer than China’s Communist Party.

“I am sorry and shouldn’t have said that. Dimon stated that he was trying to stress the strength and long-term success of the company in a bank statement.

Dimon made the following joke while speaking at the Boston College interview series for CEOs on Tuesday: “I made an improbable joke the other day about the Communist Party celebrating its 100th anniversary – JPMorgan is also.” “I’d bet we live longer,” Dimon said.

China doesn’t allow me to speak Chinese. “They are probably listening anyway,” added he.

JPMorgan spokeswoman added that Dimon has acknowledged that he shouldn’t speak lightly or disrespectfully of another country or its leaders.

Jamie stated, “During the conversation Jamie highlighted that China and its people were very intelligent and thoughtful.”

He said he regrets the remarks, coming a week after Dimon received an exemption from the Hong Kong government for visiting the Chinese-controlled financial center without having to be quarantined.

Tourists from all countries are required to stay for at least two weeks in quarantine.

Dimon spent 32 hours in Hong Kong after arriving via private plane.

JPMorgan is ambitious in China. In August, it received regulatory approval from Beijing for becoming the first foreign-owned securities brokerage in China.

Other business interests include futures and asset management in China.

China is a country where executives from global companies tend to choose carefully their words. There have been instances when foreign companies were subjected to backlash because of perceived crimes.

Dimon was forced to retract from previous statements that were critical of others.

Dimon, a speaker at a conference in September 2018, said that he could defeat President Donald Trump by running a campaign. He was more intelligent than Trump.

Dimon said that he earned his wealth, and not his father’s. Dimon immediately issued a written response stating that the comment was inappropriate and that his earlier comments showed that he would not make a good politician.