Vastavam web: President Donald Trump spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company. China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to a Times analysis of the president’s tax records. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names.
In response to questions from the Times, Alan Garten, a lawyer for the Trump Organization, said the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes” associated with efforts to do business there. He said the company had opened the account after establishing an office in China “to explore the potential for hotel deals in Asia.” “No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive,” Garten said. “Though the bank account remains open, it has never been used for any other purpose.” Garten would not identify the bank in China where the account is held.