Hunter Biden Listed as Director At China State-Backed Company
forbes.com ^ | Oct 5, 2019 | Russell Flannery, Forbes Staff, Asia
FR Posted on 10/6/2019, 3:50:25 PM by Liz
Hunter Biden’s name appears on a list of directors of a state-backed equity fund in China, the South China Morning Post reported today (link at web site).
President Trump called on China to investigate the activities of former VP Biden and his family in the country. Hunter is the son of the elder Biden, a top candidate for the Democratic Party and possible Trump opponent in the 2020 U.S. presidential election.
Hunter Biden is listed as a director of BHR Equity Investment Fund Management, whose indirect shareholders include the government-controlled Bank of China, the South China Morning Post reported. He paid about $420,000 for a 10% stake in October 2017, the New York Times has reported, according to the SCMP report.
Today In: Asia Once cordial relations between Washington and Beijing have become strained as an increase in China’s wealth and power relative to the U.S. has fueled trade, technology, geopolitical and military rivalries between the world’s two largest economies.
More than half of Americans now see friction in the current U.S.-China economic relationship, according to a report in August by the Pew Research Center. Some 60% of Americans have an unfavorable view of China compared with only 26% that have a favorable view, Pew found. (See related story here.)
With the political pendulum in U.S.-China relations swinging in a cooler direction, the controversy over the Bidens may lead to more scrutiny of ties between U.S. political elite and their family members with China businesses, especially those with government ties.
Russell Flannery, senior editor, Shanghai bureau. Now in 16th year at Forbes; compiles Forbes China Rich List and the Taiwan Rich List.
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INVESTIGATIVE REPORTER JOHN SOLOMON:
<><> in April 2014 then-VP Joe Biden set up the Burisma deal for his son.
<><> Obama's intel apparat was aware of Burisma transferring money from company accounts to Hunter Biden accounts.
<><> for public consumption, Burisma reportedly paid Hunter $50,000.......
<><> the actual payout was more than five times as much,
<><> (apparently the Burisma payout was split among Obama, Biden, the CIA and the FBI).
<><> at the same time Hunter pocketing bigtime, some $5 billion IMF money to Ukraine went missing,
“Thanks Hunter-- my bank statement arrived. And Michelle loved the diamond from China you sent over.”