Rosemont Realty, an offshoot of Hunter Biden’s Rosemont Seneca Partners consulting firm, was acquired by a Chinese Communist Party-backed firm identified as a “thinly veiled arm of the Chinese military” by a U.S. congressional task force.
In 2015, the Chinese company Gemini Investments acquired a controlling stake in Rosemont Realty, a sister company of the Rosemont Seneca firm Hunter Biden founded in 2009. The Chinese firm pledged $3 billion for “commercial office property acquisitions” in the U.S.; in other words, allowing the firm to control major swaths of American real estate.
Gemini Investments is a subsidiary of the Sino-Ocean Group, which was founded as a state-owned enterprise and boasts of its President holding a high-level leadership position within the Chinese Communist Party.
Per the group’s “Development history,” “Li Ming, Chairman and President of Sino-Ocean Group, attended the opening meeting as the newly elected member of the 13th National Committee of the Chinese People’s Political Consultative Conference.”
Sino-Ocean Group is also a branch of COSCO Shipping, a controversial, Shanghai-based logistics company labeled as a “thinly veiled arm of the Chinese military” by a task force of the U.S. House of Representatives. What’s more, 11 of its 13 executives boast of their high-level Chinese Communist Party affiliations on COSCO’s website.
Beyond inking deals with a hostile, foreign government, the deal also gave the Chinese Communist Party unfettered access and control over the company’s real estate portfolio of “33 properties with a total of 56 buildings totaling approximately 8 million square feet located in 13 states.”
The practice is common for Chinese Communist Party-linked businesses, and per the U.S.-China Economic and Security Review Commission, functions as the primary avenue for predatory and national security-endangering acquisition of American property by the Chinese Communist Party.
According to the commission’s 2019 summary:
“These efforts are often made at the direction of and with assistance from the Chinese government, part of Beijing’s larger effort to develop its domestic market and become a global leader in a wide range of technologies. These acquisition attempts frequently target advanced technologies such as artificial intelligence, biotechnology, and virtual reality, which are still in the early stages of development but could provide dual military and civilian capabilities in the future.”
In the words of President Trump: “The Bidens got rich while America got robbed.”
And, while doing so, risked America’s national security.