Hunter Biden, Biden’s son, would not have announced his resignation from the fund’s board if his relationship with BHR Partners had not been exposed in October 2019. Bohai Splendor has been accused of being a Lucrative Chinese business for the Biden family.
At the time, Biden Jr. announced his resignation from the board, but did not say whether he would retain his stake in Bohai Huamei. It was disclosed that Biden Jr. owned a 10% stake in the shareholding structure of Huamei Bohai through his investment firm, and was questioned about the “unreasonable price” for the stake, which was “no different than a gift”.
Publicly, China Bohai was founded in 2013 in Shanghai, and its U.S. partner Rosemont Seneca Partners was founded by Biden Jr., Teresa Heinz Kerry and Devin Archer. China’s two major shareholders are China Bohai Industrial Investment Fund and Harvest Fund.
Bohai Industrial Investment fund was established in 2006, investors at a glance, are powerful state-owned banks and other financial and investment institutions. Harvest fund equity at first glance there is no special, but its development process, the chronology of relevant events is very striking.
Harvest Fund was established in March 1999, namely the so-called “Top ten” fund companies established in 1998 and 1999 at the earliest. 1998 is referred to as the first year of the development of the fund industry in China. One space-time background is that In 1997, Jiang Zemin visited the United States and rang the “opening bell” at the New York Stock Exchange. In response, Professor Nguyen Ming, an exile in Taiwan who had been one of Hu’s key brains, remarked that Mr Jiang had performed an unprecedented comedy in the history of the communist movement, declaring that, far from “burying capitalism”, he would “join global capital in squeezing the Chinese proletariat”. With the bell ringing, the alliance between Wall Street and Zhongnanhai was established. China, ruled by Zhongnanhai, is open to Wall Street and, of course, heavily guarded by Chinese officials and armed police. American society has not yet discovered that behind the black hand of Wall Street there is a pair of black hands, the privileged class of the Chinese Communist Party.
Zhao Xuejun, party secretary and chairman of Harvest Fund, has been general manager of Harvest Fund since 2000. In the early 1990s, Zhao Xuejun served in the Ministry of Foreign Economic Relations and Trade under Minister Li Lanqing (formerly the Ministry of Foreign Trade and Economic Cooperation).
Harvest was approved by the commerce ministry in 2005 to bring in deutsche Asset Management, a foreign shareholder, under Bo Xilai, then commerce minister. Deutsche Asset Management Ag is the global asset management subsidiary of Deutsche Bank ag. Zhang hongli, a member of the Chinese People’s Political Consultative Conference (CPPCC) and the All-China Youth Federation, has been vice chairman and president of Deutsche Bank Investment Bank Asia, president of Deutsche Bank Global Banking Asia Pacific and member of the global executive committee of the investment bank since 2002. Mr Zhang, known internally as “Mr China”, later became a central figure in the bank’s corruption investigation. An investigation by three newspapers, Sueddeutsche Zeitung, WDR and The New York Times, revealed that Deutsche Bank bribed senior Communist Party officials for privileged access to China’s financial business over a period of more than a decade from 2002 to 2014. The bank reportedly paid $100,000 to an intermediary to facilitate a meeting between Then-Communist Party chief Jiang Zemin and Josef Ackermann, the bank’s president.
Harvest funds have been involved in coveted deals over the years, according to public information. Harvest funds are the only specially approved investors to take a stake in Sinopec’s sales company through a public offering. Even during the stock market crash, the annual report of the fund in 2015 showed that harvest Fund was the most profitable fund company, with a profit of more than 47 billion yuan. But there are times when you lose money. Such as heavy Cang Jia Yueting letv network, letV network is the predecessor of Jiang Mianheng funds through the completion of the daily online presided over. Cash Fund and Baoshang Bank’s million-dollar wealth management products are accused of conspiring to defraud investors. Baoshang Bank’s major shareholder tomorrow is Xiao Jianhua, a white glove made public by the Communist Party’s Jiangze Minzeng Qinghong corruption group.
Harvest fund has been involved in many anti-corruption storms since Xi Jinping came to power. In 2013, Wang Qishan ordered a thorough investigation, Harvest fund star manager Wu Hongjian involved in the bond market was taken away for investigation. In 2015, zhao Xuejun, general manager of Harvest Fund, was taken away for investigation in a raid by the CPC Central Commission for Discipline Inspection.
It is also pointed out that Harvest Capital International (Hong Kong) Co., LTD., a company co-founded by Zhao Xuejun and Jia Liqing in Hong Kong, was founded at the end of the stock market crash in 2015. Her father is Jia Chunwang, the former head of the Communist Party’s national security and public security organs, and she is married to Liu Lefei, son of Jiang Pai’s standing committee member, Liu Yun.
According to the public information of Harvest Fund Company, the shareholders of harvest Fund company are Zhongchengxin Trust (holding 40%), Deutsche Asset Management (holding 30%) and Lixin Investment (holding 30%).
From this equity structure, harvest fund is the majority shareholder in the trust, and the latter is controlled by picC Group. Wang Yincheng, president of PICC Group, was sacked in 2017 for his role in the “Xishan Meeting”. In addition, Han Jiale, legal agent of Shu Lun Pan, has been chairman of shu Lun Pan Since 2001. From 1991 to 2000, Han Jiale was the general manager of Beijing Haiwen Securities Investment Co., LTD., which was one of the three earliest professional investment consulting firms in China.
It is well known that a large number of private equity or investment funds in China are backed by powerful shareholders who cannot be disclosed. Beijing Jingguan Investment Center, one of Ant’s shareholders, had to penetrate the cobweb of shareholding structure to discover that Its real manager was Boyu Capital. The actual controller of Boyu Capital is Jiang Zhicheng, grandson of Jiang Zemin.
In an October 2019 tweet, Trump asked Xi to investigate Biden, accusing him of using Chinese funds to help him disrupt the U.S. election.
Interestingly, as early as the second year of Biden’s appointment as director of Bohai Bay Huamei in 2013, Xinhuanet.com published an article on May 25, 2014 titled “Business of Nepotism for the Children of American politicians”, detailing the children of American Democratic politicians. The article begins with the son of vice President Joe Biden’s involvement in the lucrative energy industry. Biden Jr. was appointed to the top job at Burisma, a Ukrainian gas company. In addition to The younger Biden, Devin Archer, a white gloves of the Kerry family, joined the senior ranks of Burisma. This is not the first time that Archer and Biden have done business, the Xinhua article said. “They established a private equity firm together in 1991.” The Xinhua article even commented that “not all the descendants of American politicians can be as open as Young Joe Biden in the sensitive business business.” To this day, neither Joe Biden nor Joe Biden can explain the murky relationship between the family’s business in China and its financial backers.
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