Chinese-Owned Companies Took Hundreds of Millions in Bailout Money Meant for Small U.S. Businesses

by Ryan Saavedra
Daily Wire

Chinese-0wned companies took hundreds of millions of dollars from the $660 billion Paycheck Protection Program that was designed to be a lifeline for small businesses in the United States that were struggling because of the coronavirus pandemic.

“According to a review of publicly available loan data by the strategy consulting firm Horizon Advisory, $192 million to $419 million has gone to more than 125 companies that Chinese entities own or invest in,” The New York Times reported. “Many of the loans were quite sizable; at least 32 Chinese companies received loans worth more than $1 million, with those totaling as much as $180 million.”

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