Jen Psaki: Hunter Biden Still ‘Working’ on Divesting from Stake in Chinese Private Equity Firm

President Joe Biden and his son Hunter depart after attending Mass at Holy Trinity Catholic Church, Sunday, Jan. 24, 2021, in the Georgetown neighborhood of Washington. (AP Photo/Patrick Semansky)
AP Photo/Patrick Semansky

White House press secretary Jen Psaki said Hunter Biden is still working to end his ten percent stake in an investment firm formed with state-owned entities in China.

“He has been working to unwind his investment, but I would certainly point you — as a private citizen — would point you to him or his lawyers on the outside on any update,” Psaki replied in response to a question from New York Post reporter Stephen Nelson.

Hunter Biden resigned from the board of Bohai Harvest RST (BHR) in October 2019 after questions were raised during his father’s presidential campaign regarding if he used his father’s position to profit handsomely on deals with foreign governments.

Even though Hunter Biden has had months to divest himself from the firm, it appears he still has his stake in the investment.

During the campaign, candidate Biden promised no one in his family would have a business relationship with foreign countries or corporations if he was elected president.

“No one in my family will have an office in the White House, will sit in on meetings as if they are a cabinet member, will, in fact, have any business relationship with anyone that relates to a foreign corporation or a foreign country,” he told voters in October 2019.

But Psaki’s answer shows little has changed from former President Barack Obama’s administration when officials responded with a similar answer when asked about Hunter’s foreign business deals.

“No, he’s a private citizen,” Psaki replied in May 2014 when as a spokeswoman for the State Department, Associated Press reporter Matt Lee asked about the Biden family’s “perceptions of conflict or cronyism”:

In 2014, White House press secretary Jay Carney also sidestepped questions about Biden, repeating that Hunter was a private citizen.

“You know, Hunter Biden and other members of the Biden family are obviously private citizens, and where they work does not reflect an endorsement by the administration or by the vice president or president,” he said.


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