Chinese-linked companies were given loans totaling as much as $34 million in a program designed to help U.S. small businesses.
President Donald J. Trump, joined by Vice President Mike Pence, Cabinet members and senior legislators, signs H.R. 266 – the Paycheck Protection Program and Health Care Enhancement Act Friday, April 24, 2020, in the Oval Office of the White House. Credit: Official White House Photo by Shealah Craighead
American-based affiliates of Chinese companies, including at least one firm with ties to the Chinese military, received millions of dollars in loans from a federal program aimed at keeping small businesses afloat during the global pandemic, according to data released this week.
Records reviewed by The Wire show that between $5 million and $10 million in federally backed funds were tapped by Continental Aerospace Technologies, a Mobile, Ala., firm that is a subsidiary of the Aviation Industry
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
The former Biden official and China scholar makes the case for the previous administration's approach and discusses why Beijing is content to watch the U.S. now dismantle its sources of strength
Navigate China's Business Landscape with Confidence.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OKPrivacy policy