He did business in China... Of course he had a China account

Posted on: December 30, 2022 at 12:54:24 CT

Setting up a bank account in China used to be pretty easy, and it wasn’t uncommon for firms to establish them just to give employees access to cash while traveling—back in the days when credit cards were rare, electronic payments were unheard of, and the 100-yuan note was king. In those days, one could set up a Chinese bank account by just sending in a passport; today, it requires a face-to-face meeting.

The details remain sketchy, but it seems that the Trump account was set up for business purposes—either as a wholly owned foreign enterprise or as a joint venture with an unknown Chinese partner. In that case, having a bank account would be not only legitimate but also advised, Dan Harris, an experienced China business attorney, wrote in a text message.

https://foreignpolicy.com/2020/10/21/why-trump-chinese-bank-account-beijing-business-tax-returns-joe-hunter-biden/