Chinese cyberespionage costs U.S. companies an estimated $300 billion annually and comprises the “single greatest threat to U.S. technology,” according to a new report by the Washington, D.C-based think tank Foundation for Defense of Democracies.
China is using its vast cyberespionage capabilities to steal intellectual property from U.S. businesses, gain the upper hand in economic negotiations, and put pressure on foreign governments, according to the report. These activities have allowed China to advance rapidly, overtake the U.S. in certain key industries and even gain some military advantages.
“For years, the Chinese government has engaged in cyber-enabled economic espionage and other covert and clandestine activities to strengthen China’s economic competitiveness and strategic position. China is estimated to be responsible for 50 to 80 percent of cross-border intellectual property theft worldwide, and over 90 percent of cyber-enabled economic espionage in the United States,” the report noted.
China employs around 30,000 military cyber spies and