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        <title><![CDATA[Trump Owes Millions to Bank of China for Building Loan, Records Show]]></title>
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            <media:title type="html">Trump Owes Millions to Bank of China for Building Loan, Records Show</media:title>
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        <content:encoded><![CDATA[<p>Financial records show that President Trump still owes the state-owned Bank of China millions from a $211 million loan that he used to refinance his 30-percent stake in a New York City skyscraper.</p><p><em>Politico</em> <strong>reported</strong> Friday that Trump’s investment in 1290 Avenue of the Americas, a 43-story building adjacent to the Trump Tower in Manhattan, is a passive one, with Vornado Realty Trust holding the majority stake — 70 percent — in the skyscraper, which has a market value of over $1 billion.</p><p>In a 2012 refinancing of the building, the Bank of China became the first Chinese lender to join the U.S. commercial-mortgage-backed securities market by providing a $211 million loan. Vornado and Trump are due to pay back the loan by November 2022, with Chinese experts <a href="https://twitter.com/isaacstonefish/status/1253676541130747904" target="_blank" rel="noopener noreferrer">warning</a> that Beijing could have compromising financial information on the president.</p><p>Trump has mentioned the investment in the past, saying when he announced his candidacy in 2015 that he owns “a big chunk” of the building “that I got from China in a war.” The<em> New York Times </em>reported in 2016 that Trump <strong>received</strong> his 30 percent share in the building in a court order, after suing former Hong Kong business partners for cash, who he argued had committed a “staggering breach” of fiduciary duty for not consulting him on a real-estate development sale.</p><p>“Through more luck than talent, I ended up much better because the buildings have increased in value,” Trump said at the time. “In the end, it was fine.”</p><p>Trump’s reelection campaign has centered around China as a key issue for 2020, releasing attack ads targeting Biden’s past praise of China, and his son Hunter’s business dealings in the country. The younger Biden <strong>was appointed to</strong> the board of a Chinese private equity firm after arranging a meeting between the firm’s founder and his father during a diplomatic trip in 2013.</p>]]></content:encoded>
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