China’s state-backed investment drive, often masked through shell companies, offshore loans and “private” buyers, had pushed the US to overhaul its investment laws in 2018. The shift stemmed from a little-noticed 2015 deal: the purchase of Wright USA, an insurer covering FBI and CIA personnel, by China’s Fosun Group. Advertisement

According to a BBC report, the alarm was raised in 2016 when US intelligence reporter Jeff Stein received a tip about the sale. “Someone with direct knowledge called me up and said, ‘Do you know that the insurance company that insures intelligence personnel is owned by the Chinese?’ I was astonished!” he said.

Wright USA held personal data of US intelligence officials. Stein told the BBC, “There was nothing illegal about it… But because everything's intertwine

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