China has shifted its global financial priorities, with more than three-quarters of its overseas lending now supporting upper-middle-income and high-income countries. The United States is the largest single recipient of Chinese official credit, receiving over $200 billion across nearly 2,500 projects and activities spanning almost every state. These include investments in pipelines, logistics infrastructure, data centres, and corporate credit facilities.

Europe also a major beneficiary

European nations are similarly significant recipients of Beijing’s lending:

UK: $60 billion

Germany: $33.4 billion

France: $21.3 billion

Italy: $17.4 billion

Portugal: $11.7 billion

Netherlands: $11.6 billion

China’s lending much bigger than previously assumed

William & Mary’s AidData research la

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