Interesting, although this report highlighted by our colleagues at RedState is more background than bombshell. Rather than rely on leaked e-mails, Typhoon Investigations compiled this look at the financial links between Hunter Biden and the communist regime in China from publicly available sources, which are meticulously footnoted throughout. This report first emerged yesterday at Balding’s World, with an endorsement from Christopher Balding, Associate Professor at Peking University HSBC School of Business Shenzhen.
Balding says he’s no supporter of Donald Trump, but the connections noted in the Typhoon report should concern anyone worried about foreign influence in the US, especially if Hunter’s father becomes president:
It is not simply the state money that should cause concern but the structures and deals that took place. Most investment in specific projects came from state owned entities and flowed into state backed projects or enterprises. Even the deals speak to the worst of cronyism. The Hunter Biden investment firm share of a copper mine in the Congo was guaranteed with assets put at risk by the larger copper company to ensure deal flow to Hunter’s firm.
In another instance, Bank of China working on an IPO in Hong Kong gave its share allocation to the BHR investment partnership. They were able to do this because even though the Hunter Biden firm completed no notable work on the IPO, it is counted as a subsidiary of the Bank of China. The Hunter Biden Chinese investment partnership is literally invested in by the Chinese state and a subsidiary of the Bank of China owned by the Chinese Ministry of Finance.
The entire arrangement speaks to Chinese state interests. Meetings were held at locations that in China speak to the welcoming of foreign dignitaries or state to state relations. The Chinese organizations surrounding Hunter Biden are known intelligence and influence operatives to the United States government. The innocuous names like Chinese People’s Institute for Foreign Affairs exist to “…carry out government-directed policies and cooperative initiatives with influential foreigners without being perceived as a formal part of the Chinese government.”
Interestingly the CPIFA is under the Chinese Ministry of Foreign Affairs. When the investment partnership was struck in 2013, the Minister of Foreign Affairs was Yang Jiechi. Yang would have been very familiar with Hunter Biden from his days in Washington as the Chinese Ambassador to the United States from 2001 to 2005 during which he met regularly with Joe Biden chairing the Senate Foreign Relations Committee. Today the same individual who oversaw institutions helping shepherd Hunter’s investment partnership as the Minister of Foreign Affairs is Xi Jinping’s right hand man on foreign affairs and member of the powerful Politburo.
Most worrying is the financial leverage this gives the Chinese state over a direct member of the Biden family. Despite the widely reported $1-1.5 billion of investment the reality is likely much higher. A co-founder of the investment firm reports the total assets under management as $6.5 billion. While this number cannot be completely replicated, given that two deal alone were worth in excess of $1.6 billion this number is not unrealistic at all. A 2% annual fee on assets under management would generate $130 million annually. Add in the 20% fee on capital gains the firm would recognize and it is not difficult to see Hunter’s stake being worth in excess of $50 million.