Major Democratic Group Received $100,000 in Chinese Government-Linked Tech Firm Stock
American Bridge reported the six-figure gift on its most recent tax forms
The Washington Free Beacon
A prominent Democratic group poised to spend millions backing former vice president Joe Biden received $100,000 in the form of stock shares in the Chinese technology giant Baidu from an anonymous donor. Baidu, like many Chinese technology companies, is closely affiliated with China’s ruling Communist Party.
Baidu headquarters in Beijing / Getty Images
American Bridge, an opposition research group founded by liberal operative David Brock, reported the receipt of the 450 shares in late 2018, a gift that was disclosed in its latest tax filings. The multinational internet services company acts as China’s Google and operates under a degree of state party control. The gift was valued at $101,037, according to the organization’s Form 990. It is unclear whether the group sold the stock or opted to retain it in the hope share prices would rise.
American Bridge did not respond to a request for comment.
Brock’s group is preparing to spend at least $50 million against Trump. The nonprofit’s sister group, the American Bridge PAC, recently partnered with the pro-Biden super PAC to form a $175 million joint venture. The PAC has already poured seven figures into the 2020 elections.
But this six-figure gift to American Bridge is raising concern among experts who argue that Baidu is beholden to China’s communist regime to a greater extent than other Chinese companies. An American political group profiting from such a company could pose problems at a time when tensions between the United States and China are high, particularly in regards to the coronavirus pandemic.
“The party calls, you act, or you risk disappearing,” said Derek Scissors, a resident scholar at the American Enterprise Institute…
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