University Housing Biden Center Took Funds From Firm Controlled By China’s ‘Supreme Organ Of State Power,’ Docs Show
The University of Pennsylvania received over $500,000 from a company that serves as an investment arm of the Chinese Communist Party (CCP) after it opened Joe Biden’s think tank in 2018, according to the university’s foreign gift reporting records.
Between 2018 and 2020, China Everbright Group, a “state-owned financial conglomerate,” donated $523,840 to the University of Pennsylvania following the February 2018 launch of the Penn Biden Center for Diplomacy and Global Engagement, according to UPenn’s foreign gift reporting records. China Everbright Group was founded in 1983 with the backing of the State Council, which is composed by the heads of each Chinese government ministry and is China’s “supreme organ of state power,” according to the Chinese government.
Moreover, China Everbright Group also appears to have ties to Hunter Biden’s Chinese business ventures, according to multiple financial disclosures.
At the time of the donations, state-owned Central Huijin Investment Ltd. held a majority of China Everbright Group’s shares, according to Chinese state-owned bank records for 2018, 2019 and 2020.
The State Council appoints the board of directors and supervisors for Central Huijin Investment, which invests “in accordance with authorization by the State Council,” Huijin’s website states.
In October 2018, China Everbright Group donated $18,140 to UPenn, according to foreign gift reporting records released by Fox News Tuesday, which were obtained by Americans for Public Trust.
Two months later, China Everbright Group made another $314,110 donation to UPenn in December 2018, foreign gift reporting records show.
The following year, China Everbright Group made a third donation of $191,590 to UPenn in September 2019, according to the records.
China Everbright Group also has links to Hunter Biden’s business dealings, according to financial disclosures.
China Everbright Group was listed as “parent company” of China Everbright Bank in 2014, according to multiple reports.
In turn, 2014 SEC filings show that China Everbright Bank was a “major investor” for Bohai Harvest RST, where Hunter Biden served as “board member” at the time.
Meanwhile, China Everbright Bank’s former “international business department” head, Hua Zhixiang, has been listed as an “investment partner” on Bohai Harvest’s website since 2015 and remains currently listed as such.
In addition to China Everbright Group’s donations to UPenn, on May 16, Fox News identified over $7 million that UPenn received from Chinese sources linked to Hunter Biden after the Penn Biden Center was established.
Based in Washington, D.C., the Penn Biden Center aims to “develop and advance smart policy and strengthen the national debate for continued American global leadership in the 21st century,” according to its website.
https://dailycaller.com/2023/05/18/university-biden-center-state-council-ufwd/