The Foundation for Cultural Exchange between China and the United States (CUSEF), which promotes the foreign policy interests of the People’s Republic of China, will send a grant of $5 million to the Foundation for US-China relations of the late former US President George H. W. Bush, writes the Axios portal.
According to the publication, both funds have signed an agreement. It is concluded for the period from April 1, 2019, to December 31, 2023.
According to the portal, the Chinese fund has committed to an annual payment of $1 million.
The document also stipulates that the funds will develop constructive, reliable, mutually beneficial, and politically stable relations.
According to the portal, CUSEF has a reputation as an instrument of influence in Beijing. The head of the foundation is former Hong Kong Chief Executive Dong Jianhua, who also serves as co-chairman of an advisory body in the Chinese capital that promotes China’s political interests.
The CUSEF Foundation has provided financial support to campaigns in the United States to influence the opinion of key audiences about China’s policy in Tibet. The Bush Foundation has at times criticized China while supporting Beijing on some important geopolitical issues.
The official representative of the Bush Foundation, Leslie Reagan, told the portal that the funding provided by the Chinese foundation does not affect the independent political position of the Bush Foundation.
Earlier, US President Joe Biden said that the United States considers China to be its main competitor.