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China Asks Banks to Report Exposure to Venezuela After US Raid
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January 5, 2026
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5:35Now PlayingDamian Sassower, Chief EM Credit Strategist for Bloomberg Intelligence, discusses the potential spillover effect of this weekend's US strike on Venezuela.
China’s top financial regulator asked its policy banks and other major lenders to report their lending exposure to Venezuela after the US ousted the South American country’s Beijing-friendly leader, according to people familiar with the matter.
The National Financial Regulatory Administration also urged banks to strengthen risk monitoring of all Venezuela-related credit, seeking to assess potential dangers to China’s lenders, said the people, who asked not to be identified because the talks are private.
The directive underscores growing concerns among regulators about potential shocks to the banking sector as geopolitical risks intensify. Venezuela has long been an important partner for China in energy and infrastructure projects, with billions in loans extended over the past decade, primarily led by policy banks such as China Development Bank.
“If the US gets its way and US creditors and claimants become the senior creditors of Venezuelan debt, Chinese creditors would face higher risks of missed payments as the Venezuelan government and state firms struggle to meet US demands and domestic expenditure needs,” said Victor Shih, a professor at the University of California, San Diego.
The NFRA didn’t immediately reply to a request for comment.
China became a key lender to Venezuela in 2007, when it first provided funds for infrastructure and oil projects under late President Hugo Chávez. Public data supports estimates that Beijing lent upwards of $60 billion in oil-backed loans through state-run banks until 2015.
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