President Donald Trump's company held a multi-million debt to Bank of China – in a large transaction that was the first by the state-owned back inside the United States.

Trump's ownership of the 43-story Manhattan tower has been known publicly for years and came up during his 2016 campaign. But it is getting a second look now that China is looking to be a flashpoint in his race against former Vice President Joe Biden.

The loan, reported on Friday by Politico, derived from the Trump Organization's 30 per cent stake in the 1290 Avenue of the Americas building, bounded by 52nd Street and steps from Radio City Music Hall. However the loan then was repackaged, and the Bank of China says it no longer has any ownership of the loan.

Trump's partner, Vornado Realty Trust, refinanced the 43-story building in 2012, reported. Vornado has 70 per cent ownership.

A Manhattan office tower co-owned by President Trump owes $211 million to the Bank of China, according to filings

Of the amount of debt on the asset, $211 million was owed to the state-owned Bank of China.

The building is valued at more than $1 billion.

The loan was soon securitized and sold, according to the company, which produced a financial document confirming the sale of the loan.

'On November 7, 2012 several financial institutions including the Bank of China participated in a commercial mortgage loan of $950 million to Vornado Realty Trust,' the managing director of Bank of China U.S.A. said after initial publication of the Politico story stating that the loan had yet to mature and would come due in 2022.

'Within 22 days, the loan was securitized and sold into the [mortgage-backed securities] market, as is a common practice in the industry. Bank of China has not had any ownership interest in that loan since late November 2012,' he said.

Trump stepped back from running his business after he the 2016 election, placing it in the control of his adult sons Don Jr. and Eric, as well as an executive. However that hasn't kept an array of potential conflicts from creeping up.

Eric Trump responded by blasting the Politico article on Twitter Sunday – in a missive indicating Team Trump had no intention of backing down on attacks on rival Joe Biden over China.

'Article should have read: Trump as businessman had a passive, non-controlling/managing interest in an office building which had financing from Bank of China for less than 22 days (in 2012). Biden, meanwhile as VP flew his son on AF2 to China to secure 1.5Bil for his fund in 2013.'

The Trump Organization is currently seeking to renegotiate lease payments for a Washington D.C. hotel it leases from the government's General Services Administration, which Trump oversees. Trump businesses are barred from getting a bailout in the coronavirus stimulus package, something Trump noted at a recent press briefing.

1290 Avenue of the Americas-Standing 43 stories high and encompassing 2 million square feet. The Trump Organization has a 30 per cent stake in the building

The building, located near Radio City Music Hall, is valued at more than $1 billion

Vice President Joe Biden waves as he walks out of Air Force Two with his granddaughter Finnegan Biden and son Hunter Biden (R) on December 4, 2013 in Beijing, China. Biden was on the first leg of his week-long visit to Asia

The note with the state-owned Bank of China on the building matures in 2022, according to a Vornado financial disclosure

The note on the building was to mature in 2022, according to a Vornado financial disclosure.

The Trump camp is planning to use China as a club against presumed nominee Joe Biden. Hunter Biden serves on the board of a private equity fund that got business in China, and he traveled with his father to Beijing aboard Air Force Two in 2013.

The firm reached a deal – also with the state-owned Bank of China – valued at $1.5 billion. It was announced days after the visit. Trump and his allies have used the deal to accuse Hunter Biden of using special access, although his claims that Hunter Biden 'made millions of dollars' is not borne out by fact checkers.

But in the case of the Manhattan building, it is Trump personally – not a relative – who had a financial relationship with China.

Trump has his own vulnerabilities on China due to the spreading coronavirus that has killed 50,000 Americans.

Trump tweeted Jan. 24: 'China has been working very hard to contain the Coronavirus.' He added: 'The United States greatly appreciates their efforts and transparency. It will all work out well. In particular, on behalf of the American People, I want to thank President Xi!'

Many U.S. officials now accuse China of holding back vital information that might have slowed the pandemic.

Trump said Saturday China would 'own' Biden if he wins the election.

Trump has held up the deal for the New York tower as proof of his business acumen. 'I own a big chunk of the Bank of America building [in San Francisco] and 1290 Avenue of the Americas that I got from China in a war. Very valuable. I love China,' Trump said during the campaign.

The Trump Organization calls it 'One of the [sic] New York City's Most Distinguished Midtown Office Buildings' on its website. 'The building's reputation and history is treasured by tenants new and old,' it says.