Chinese espionage steals $600 billion from US firms yearly. It’s time for government to act
Chinese espionage is estimated to cost U.S. companies up to $600 billion annually, with the aim of stealing entire industries rather than just individual trade secrets. Former CIA officer Daniel Hoffman and expert Tom Lyons argue that China's state-directed economic model facilitates widespread intellectual property theft. U.S. firms face high legal costs and limited recourse when pursuing stolen technology, especially when the perpetrators are based in China.
- ▪China steals an estimated $600 billion annually from U.S. companies through espionage, according to former intelligence officials.
- ▪Many companies do not report espionage due to concerns about reputational damage and shareholder reactions.
- ▪Tom Lyons testified before the Senate Judiciary Committee that most theft goes undetected or unreported.
- ▪Linwei Ding, a former Google engineer, stole AI chip designs and used them to benefit a China-based company before being arrested.
- ▪China's Ministry of State Security infiltrates high-tech firms, and all employees in Chinese companies are legally required to report to state security agencies.
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Opinion Chinese espionage steals $600 billion from US firms yearly. It’s time for government to act The goal isn't just to steal from individual firms but to pilfer entire industries, says former CIA officer By Daniel Hoffman Fox News Published May 16, 2026 8:00am EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video Trump to press Xi to ‘open up’ China as tech CEOs join key summit Fox News senior White House correspondent Peter Doocy discusses the upcoming U.S.-China summit and President Donald Trump’s priorities for the high-stakes meeting on ‘The Story.’ NEWYou can now listen to Fox News articles! Timed to the Beijing summit, I caught up with my friend and former CIA colleague Tom Lyons, who is the co-founder of the 2430 Group, which advises…
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