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White House: Hunter Biden 'working to unwind' from joint venture with Communist Chinese government

"He's a private citizen," press secretary points out.

Updated: February 7, 2021 - 3:32am

The Facts Inside Our Reporter’s Notebook

President Biden's son Hunter Biden is still "working to unwind" his financial investment in a venture with the Communist China government, White House press secretary Jen Psaki confirmed Friday. 

Biden reportedly still owns a 10% stake in Bohai Harvest RST, a Chinese investment firm formed in partnership with Chinese state-owned entities. Asked about that arrangement, Psaki indicated that Biden was in the process of extricating himself from it. 

"He has been working to unwind his investment," she said, "but I would certainly point you – he’s a private citizen. I would point you to him or his lawyers on the outside on any update."

In October, just prior to the election, President Biden had pledged that "no one in [his] family" would "have any business relationship with anyone that relates to a foreign corporation or a foreign country." 

Hunter Biden's overseas business affairs came under close scrutiny during the 2020 presidential elections, particularly his high-paying board position, in part while his father was vice president, on the Burisma Holdings natural gas company in Ukraine. 

Biden confirmed in December 2020 that he is under investigation by federal prosecutors in Delaware for his "tax affairs."

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