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.
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By: Miss Cherry May Timbol –Independent Reporter
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