Anonymous ID: 430014 Feb. 5, 2022, 8:31 p.m. No.15558195   🗄️.is đź”—kun

Broken Old Crow?

 

Bank of China

Angela Chao appointed BOD of BOC

Sister to Elaine Chao

Aside from her position at the Bank of China, Angela Chao also serves as the CEO of Foremost, which is the Chao family’s billion-dollar maritime shipping empire. While Foremost is an ostensibly American company with offices located in New York City, Forbes noted that the company’s fleet of vessels “sail under flags registered in Liberia and Hong Kong, and the company does the vast majority of its business in Asia.”

 

Foremost’s upward trajectory has remained steady during McConnell’s tenure in the Senate, with the company continuing to prosper even during multiple economic downturns in the industry. Shipping database VesselsValue has estimated the company fleet’s net worth at $1.2 billion, making it the most valuable such fleet of any dry bulk shipping operation headquartered in the United States in 2019.

 

Perhaps some of Foremost’s good fortune can be attributed to the several hundred million dollars’ worth of loans it is contracted to receive from the Chinese government, or the fact that James and Angela Chao, who describe themselves as Americans, have served on the board of the Chinese government-owned China State Shipbuilding corporation. China State Shipbui

 

The New York Times noted in its 2019 report that the Bank of China, where Angela Chao serves as a non-executive director, is a top lender to China State Shipbuilding.