In 2013, VP Joe Biden brought along son, Hunter, on an official trip to China.
NBC News reporter Josh Lederman writes “What wasn't known then was that as he accompanied his father to China, Hunter Biden was forming a Chinese private equity fund that associates said at the time was planning to raise big money, including from China. Hunter Biden has acknowledged meeting with Jonathan Li, a Chinese banker and his partner in the fund during the trip, although his spokesman says it was a social visit.
The Chinese business license that brought the new fund into existence was issued by Shanghai authorities 10 days after the trip, with Hunter Biden a member of the board.
Trump points out that Hunter Biden used his trip on Air Force Two to procure $1.5 billion from China for his fund.
In August, Senate Finance Committee Chairman Chuck Grassley, R-Iowa, raised concerns about Hunter Biden’s meeting with Li in a letter to Treasury Secretary Steven Mnuchin that warned of Hunter Biden’s “history of investing in and collaborating with Chinese companies.” Grassley’s letter also cited media reports saying Hunter Biden had arranged for Li, his business partner, to shake hands with the vice president while in Beijing.
Also involved in the fund is Devon Archer, a past adviser to former Secretary of State John Kerry, who also partnered with Hunter Biden on his work in Ukraine and a U.S. investment firm.
Trump said about Hunter's deal, "when Biden’s son walks out of China with $1.5 billion in a fund, and the biggest funds in the world can’t get money out of China, and he’s there for one quick meeting and he flies in on Air Force Two, I think that’s a horrible thing,"