A China syndrome has cropped up among the Trump administration’s potential conflicts of interest. Donald Trump on Wednesday — but the Chinese government is a big investor in the private equity mogul’s funds, The Post has learned. WL Ross & Co.
in 2010 raised roughly $500 million from a state enterprise, China Investment Corp. (CIC) to invest alongside his fund, two sources with direct knowledge of the situation said. Ross collects fees from CIC’s investments, which tap part of China’s foreign exchange reserves.
The main job of the Commerce Department boss is to set and enforce trade policy, and candidate Trump was particularly critical of current policy in regard to trade relations with Beijing and promised to introduce tougher laws. Ross told The Post on Wednesday that if Trump believes there is a conflict of interest from any of his investments, he would divest them. He declined to comment on whether CIC is an investor in his firm.
Ross added he plans to place his interest in WL Ross & Co. in a blind trust and give up his management positions..