Joe Biden’s son Hunter to step down from Chinese equity firm

Joe Biden’s son will stand down from the board of a Chinese company amid scrutiny of his overseas business affairs.

Hunter and Joe Biden. Picture: Getty Images

Hunter Biden, son of the former vice-president Joe Biden, will stand down from the board of a Chinese company amid scrutiny of his overseas business affairs.

The younger Biden, 49, a former lawyer, holds the role at BHR Equity Investment Company, a Shanghai-based fund in which he is also an investor.

He will forgo working for any foreign-owned companies should his father become president, his lawyer said in a statement released as polls showed the elder Mr Biden flagging among the pool of Democratic contenders for the 2020 nomination.

A poll released yesterday showed that the former vice-president, who had for months been the frontrunner to take on Donald Trump in next year’s election, was viewed more unfavourably than favourably by American voters. Only 26 per cent of voters polled by CBS/YouGov had a positive view of Mr Biden, compared with 40 per cent who viewed him unfavourably.

Enthusiasm for Joe Biden, 76, who has portrayed his campaign as being based on values lost under the Trump presidency, was notably weaker than for Mr Trump, who is still supported by 80 per cent of Republicans. In contrast, Mr Biden was viewed favourably by 58 per cent of his own party.

The poll shows the support that remains for Mr Trump, 73, who is facing an impeachment inquiry for allegedly asking foreign powers to find political dirt on his potential rival.

During a private phone call in July, Mr Trump asked President Volodymyr Zelensky of Ukraine to open an inquiry on Hunter Biden and his work for a Ukrainian oil company at the time when his father was vice-president. He then called on the Chinese government to investigate Hunter’s investment in BHR, in which he holds a 10 per cent stake.

George Mesires, Hunter’s lawyer, said his client had not received any compensation from BHR, nor any return on his investment.

The younger Mr Biden “undertook these business activities independently” and “will agree not to serve on boards of, or work on behalf of, foreign owned companies” in the future, Mr Mesires said.

No evidence of wrongdoing by the Bidens has emerged, while critics of Mr Trump say that he violated his oath of office during his phone call with Mr Zelensky.

The Democrat-led House of Representatives is investigating whether Mr Trump ordered the government to withhold hundreds of millions of dollars of aid to Ukraine unless Mr Zelensky caved in, and whether the White House sought to cover up the affair.

The Times