US Largest Recipient of Chinese Loans, New Report Shows

China lends nearly $1 trillion to high-income countries, as much as its Belt and Road Initiative in the Global South.

A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in eastern Jiangsu Province, China, on Aug. 28, 2019. AFP via Getty Images

While Beijing is known for lending to low-income countries through its $1 trillion geopolitical program, also known as the Belt and Road Initiative, a new study shows that China’s official financing totaled more than $2 trillion worldwide from 2000 to 2023, with the United States ranking first with more than $200 billion from nearly 2,500 projects.

The report, released on Nov. 18 by AidData, a research lab at the College of William and Mary in Virginia, offers a rare view into Chinese lending in developed countries.