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IPFS News Link • China

CHINA MITCH: McConnell Has Family Ties to Bank of China, Top Chinese Shipping Firm

• https://nationalfile.com, by GABRIEL KEANE

As news breaks Tuesday of Senate Majority Leader Mitch McConnell's praise for the United States' election "process" and declaration of "congratulations" for "President-elect Joe Biden," the Kentucky senator's extensive family ties to China have resurfaced as a topic of conversation.

McConnell's marriage into the Chao family dynasty has coincided with a trajectory of ever-increasing personal profit for McConnell and the Chaos, as well as Chinese state business interests.

BANK OF CHINA

McConnell's wife, Elaine Chao, is the daughter of shipping magnates James and Ruth Chao and the sister of Angela Chao, the latter of whom was appointed to a non-executive position on the Bank of China's board of directors in 2016.

CHAO FAMILY WEALTH

massive spike in McConnell's financial disclosures occurred in 2007 and 2008 following the death of Ruth Chao, with the senator's federal disclosure jumping from $3 million to $33 million in that two year span according to Forbes.

McConnell's re-election campaigns have received over $1 million in contributions from Elaine Chao's family, including James and Angela, according to a 2019 report from the New York Times.


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