Hunter Biden, the son of US presidential contender Joe Biden, is to step down from the board of a Chinese company amid fierce attacks by President Donald Trump. His lawyer stated that Hunter would also not work for any foreign-owned companies if his father were elected.
Mr Trump has called on China and Ukraine to investigate Joe Biden over his son's activities in both countries, without any evidence of wrongdoing. The issue is central to an impeachment inquiry against the US president, which centres on allegations that he solicited help from Ukraine for electoral gains.
A statement released through Hunter Biden's lawyer said he would resign by 31 October from the board of BHR (Shanghai) Equity Investment Fund Management Company. He joined the board in an unpaid position based on his interest in bringing Chinese capital to international markets. The statement stressed that there had been no wrongdoing in his work in Ukraine and China.
Hunter Biden accompanied his father on an official trip to Beijing in December 2013, during which he met Chinese banker Jonathan Li, his eventual partner in the fund. The Chinese business licence for the fund was issued 10 days after the Bidens' visit. Hunter Biden's lawyer said he did not acquire an equity interest until 2017, after his father had left office, and invested about $420,000 for a 10% stake.
Mr Trump has accused the former US vice-president and his son of corruption in Ukraine and China, without offering specific evidence. Joe Biden has denied any wrongdoing, and other Western officials also wanted the Ukrainian prosecutor dismissed due to anti-corruption concerns. A Democratic-led impeachment inquiry is examining whether Mr Trump withheld aid to pressure Ukraine into investigating the Bidens.
