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A sweeping AidData report says China’s state banks secretly funneled about $200 billion into U.S. companies over 25 years, often routed through shell firms in the Cayman Islands, Bermuda and Delaware. Many loans aided Chinese acquisitions in sensitive sectors, including robotics, semiconductors and biotech, raising national security alarms. Globally, China lent more than $2 trillion since 2000, extending its web of obligations into wealthy allies, researchers found. U.S. scrutiny has tightened since 2020, but China has expanded overseas branches to mask origins. Experts warn the opaque financing could give Beijing leverage over critical technologies.

Prepared by Christopher Adams and reviewed by editorial team.