Hunter Biden’s Chinese investment firm assisted China’s acquisition of “strategically sensitive assets” in the United States, according to a New York Post op-ed by the Government Accountability Institute’s Peter Schweizer and Jacob McLeod.
Schweizer and McLeod provide further details on the investments former Vice President Joe Biden’s son, Hunter Biden, facilitated via his Chinese-backed investment firm.
In 2013, less than two weeks after accompanying his father on an official visit to Beijing–and despite his lack of pertinent expertise–Hunter Biden secured $1 billion (later raised to $1.5 billion) from the state-owned Bank of China for his newly formed investment firm, Bohai Harvest RST (BHR). This was in addition to the first-of-its-kind deal the Chinese government awarded Biden’s private equity firm Rosemont Seneca in the recently formed Shanghai Free-Trade Zone, a deal that allowed the firm to focus on international acquisitions.
“With the backing of the state-owned Bank of China, one of the country’s ‘big four’ financial institutions, BHR had access to the types of deals that most Western firms only dreamed of, including IPOs of state-owned companies,” Schweizer and McLeod write, noting that Biden’s firm “invested in strategically sensitive assets in both China and the United States.” – READ MORE