US is biggest recipient of Chinese loans, study shows

HONG KONG (Reuters) -The United States is the biggest recipient of China's lending activities globally, according to a survey which tracked Beijing's recognition activities and recovered it is progressively lending ​to higher-income countries implicit processing countries.

The report, published connected Tuesday by AidData, a probe laboratory ‌at U.S. assemblage William & Mary, said China's lending and assistance giving totalled $2.2 trillion crossed 200 countries successful each ‌region of the satellite from 2000 to 2023.

China has agelong been seen arsenic a creditor to processing countries done its Belt and Road initiative, but is shifting toward lending to precocious economies — backing strategical infrastructure and high‑tech proviso chains successful areas specified arsenic semiconductors, artificial quality and cleanable energy.

Beijing's portfolio size is two-to-four times larger than erstwhile estimates suggest, AidData ⁠said, adding that China remains the world'‌s largest authoritative creditor.

In effect to a petition for remark connected the report, China's Ministry of Foreign Affairs said its overseas concern and financing "adhered to planetary practices, marketplace principles ‍and the rule of indebtedness sustainability."

CHINESE ENTITIES ACTIVE ACROSS THE U.S.

More than three-quarters of China's overseas lending operations present enactment projects and activities successful upper-middle-income countries and high-income countries.

"Much of the lending to affluent countries is focused connected captious infrastructure, captious ​minerals and the acquisition of high-tech assets similar semiconductor companies," said pb writer Brad Parks, AidData's ‌executive director.

The United States topped the database for authoritative assemblage recognition from China, receiving much than $200 cardinal for astir 2,500 projects and activities, the study said.

Chinese state-owned entities are "active successful each country and assemblage of the U.S.", bankrolling the operation of LNG projects successful Texas and Louisiana, information centres successful Northern Virginia, terminals astatine New York's John F. Kennedy International Airport and Los Angeles International Airport, the Matterhorn Express Natural Gas pipeline ⁠and the Dakota Access lipid pipeline, AidData said.

Beijing has financed the acquisition ​of high-tech companies, portion Chinese state-owned creditors person provided recognition ​facilities for galore Fortune 500 companies including Amazon, AT&T, Verizon, Tesla, General Motors, Ford, Boeing and Disney, the study said.

The stock of lending to debased and ‍lower-middle income countries fell to ⁠12% successful 2023 from 88% successful 2000. Beijing has besides chopped lending for infrastructure projects successful the "Global South", nether its Belt and Road Initiative.