(This is the first in a series of articles exploring Hunter Biden and Chris Heinz’s business dealings with Chinese entities. Additional reporting and research have been provided by RedState’s Scott Hounsell. Links to additional pieces are at the bottom.)
A nearly 60-page intelligence report dated October 2 and provided to RedState late Wednesday, October 21 details the relationship between multiple Chinese State-Owned Entities (SOE’s) and companies owned by Hunter Biden, Chris Heinz (stepson of former Secretary of State John Kerry), Devon Archer, James Bulger, and suspected Chinese intelligence asset Michael Lin. Despite what Hunter Biden’s attorney claimed in 2019, Hunter started traveling to China shortly before the Big Guy became Vice President and signed contracts with SOE’s while the Big Guy was Vice President.
According to Christopher Balding, Associate Professor at Peking University HSBC School of Business Shenzhen – who notes that he did not vote for Donald Trump in 2016 and will not be voting for him this year – who reviewed the report before publication:
Lost among the salacious revelations about laptop provenance is the more mundane reality of influence and money of major United States political figures. Ill-informed accusations of Russian hacking and disinformation face the documented reality of a major Chinese state financial partnership with the children of major political figures. A report by an Asian research firm raises worrying questions about the financial links between China and Hunter Biden.
Beginning just before Joe Biden’s ascendancy to the Vice Presidency, Hunter Biden was traveling to Beijing meeting with Chinese financial institutions and political figures would ultimately become his investors. Finalized in 2013, the investment partnership included money from the Chinese government, social security, and major state-owned banks a veritable who’s who of Chinese state finance.
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.
According to the report Hunter Biden made incredible profits for essentially doing nothing, including a tidy sum off of a copper mine in the Congo and another healthy bundle for allowing the Bank of China to allocate its share of an IPO in Hong Kong to his venture capital firm, BHR. So he’s either the world’s savviest investor or there are some shenanigans/influence-peddling going on.
These activities were directed by people at the highest levels of the Chinese Communist Party, according to the report.
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.”
Balding, an American who lived in China for nine years, says of the report’s veracity:
I did not write the report and I am not responsible for the report. I have gone over the report with a fine-tooth comb and can find nothing factually wrong with the report. Everything is cited and documented. Arguably the only weakness is that we do not have internal emails between Chinese players or the Chinese and Bidens that would make explicit what the links clearly imply.
Among the other revelations in the report:
- The state-owned Bank of China, through subsidiary companies, is the majority owner of Hunter Biden’s venture capital firm, BHR
- Hunter Biden still owns a 10% share of BHR, (conservatively) estimated value $50 million
- Hunter Biden served on the board of Heinz and Archer’s Rosemont Realty, a large US-based commercial real estate firm that was then sold to a Chinese company
- A Chinese company affiliated with Hunter Biden acquired electric vehicle technology and assets from two US companies that were in bankruptcy and which had defaulted on government-backed loans
- Joe and Hunter Biden’s December 2013 trip to China overlapped then-Ukrainian President and Joe Biden ally Viktor Yanukovych’s trip
- BHR partnered with AVIC, an aerospace and defense SOE (yes, the Chinese military), to purchase US automotive supplier Henniges Automotive in 2016
- Suspected Chinese intelligence asset – and Hunter Biden business partner and frequent travel partner – Michael Lin had official meetings with Joe Biden while he was Vice President
Balding says this information is easily discoverable, that “there is no secret method for discovering this data other than actually looking,” and that knowing how the Chinese government operates, the links between Beijing and the Bidens are very worrisome:
Having lived in China for nine years throughout the Xi regime’s construction of concentration camps and having witnessed first hand their use of influence and intelligence operations, the Biden links worry me profoundly.
Whether Joe Biden personally knew the details, a very untenable position, it is simply political malpractice to not be aware of the details of these financial arrangements. These documentable financial links simply cannot be wished away.
The entire report can be read here.