Washington: China has quietly become one of the largest lenders to the United States, even as Washington continues to warn other countries about the risks of taking money from Chinese state banks. New research shows that Chinese state owned banks have provided about 200 billion dollars in loans to American companies and projects over the past two decades. Much of this financing moved through offshore locations, making it hard to trace and raising worries about transparency and national security.

According to analysts, many of these loans were linked to sectors such as technology, semiconductors, robotics and infrastructure. These are areas considered important for national security and economic strength. China has been shifting its overseas lending strategy to focus more on gaining influence in advanced industries rather than only supporting development projects in poorer countries.

The study found that Chinese banks often used shell companies in places like the Cayman Islands, Bermuda and Delaware to make the money flow appear less connected to Beijing. This has made it difficult for American regulators to detect Chinese involvement early enough. Researchers say China has been building a global network of offshore banking units to carry out such moves.

The United States has recently strengthened rules to monitor foreign investment in sensitive sectors. A new outbound investment security program also came into effect this year, aimed at keeping American companies from sharing critical technology with countries of concern, including China. But experts say China has continued to adapt and find new ways to channel money into the US economy.

Reports also show that China is pulling back from private equity investments in the United States due to rising tensions. Even so, the scale of earlier lending highlights how deeply Chinese money has already entered American industries.

Researchers say the findings challenge common assumptions about global lending. While Chinese loans to developing nations have long drawn attention, the large sums flowing into wealthy countries like the United States show that the financial relationship between Washington and Beijing is more complex than many believed.