U.S. units of Chinese companies got coronavirus bailout money

Malaysia News News

U.S. units of Chinese companies got coronavirus bailout money
Malaysia Latest News,Malaysia Headlines
  • 📰 NBCNews
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 86%

The U.S. government has awarded coronavirus relief loans to several subsidiaries of Chinese companies, including one linked to the Chinese military that drew scrutiny from Congress, according to data released by the Treasury Dept.

, the lawmakers, led by Republicans Sen. Tom Cotton of Arkansas and Rep. Mike Gallagher of Wisconsin, praised the Pentagon for releasing the list and said the U.S. needed to counter China's"parasitic technology transfer efforts."

When asked about the loans, the Treasury Department and the Small Business Administration did not comment specifically on the Chinese subsidiaries and pointed to the general parameters of the PPP loan program. But the Treasury Department spokesperson said the government can direct a lender to deny forgiveness of a loan.

The State Department referred queries to the Treasury Department. The White House national security council did not respond to requests for comment. The loan disclosures come amid growing tensions between China and the Trump administration, which has accused Beijing of initially trying to conceal the extent of the coronavirus outbreak, attempting to hack U.S. research on a COVID-19 vaccine, stealing intellectual property and committing egregious human rights violations in Hong Kong and against Uighurs in the country's west. China denies the allegations.

The rivalry has played out over technology, with the White House lobbying allies to rebuff offers from

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

NBCNews /  🏆 10. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pfizer, BioNTech's coronavirus vaccine candidates get FDA's 'fast track' statusPfizer, BioNTech's coronavirus vaccine candidates get FDA's 'fast track' statusTwo experimental coronavirus vaccines jointly developed by German biotech firm BioNTech and U.S. pharmaceutical giant Pfizer have received 'fast track' designation from the U.S. drug regulator, the companies said on Monday.
Read more »

Pfizer, BioNTech's coronavirus vaccines get FDA's 'fast track' statusPfizer, BioNTech's coronavirus vaccines get FDA's 'fast track' statusTwo experimental coronavirus vaccines by German biotech firm BioNTech and U.S. pharmaceutical giant Pfizer have received the U.S. Food and Drug Administration's 'fast track' designation, the companies said on Monday.
Read more »

Disney to shut Hong Kong Disneyland again as coronavirus cases riseDisney to shut Hong Kong Disneyland again as coronavirus cases riseWalt Disney Co is temporarily closing its Hong Kong Disneyland theme park from July 15 amid rising coronavirus cases in the Chinese-ruled city, the company said Monday.
Read more »

Nearly 1,000 U.S. immigration detention center employees test positive for coronavirusNearly 1,000 U.S. immigration detention center employees test positive for coronavirusMore than 930 employees of private contractors running U.S. immigration detention centers have tested positive for the novel coronavirus, according to congressional testimony given by company executives on Monday.
Read more »

Asian shares firm, hope for best from U.S. earningsAsian shares firm, hope for best from U.S. earningsAsian shares got off to a firm start on Monday as investors wagered U.S. earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns.
Read more »



Render Time: 2025-03-09 15:04:24