This study analyzes the Chinese Ministry of State Security’s HUMINT operation targeting General Electric, illustrating China's methods of espionage and industrial secret acquisition from the US. China had silently strengthened its technological capability with a focus on economic development until the Hu Jintao era, but since President Xi Jinping took office in 2012, the country has been increasingly aggressive in developing a technology hegemony competition with the US. Against this backdrop, China has been stealing industrial secrets from the US, contributing to its technological development. The FBI claimed that China is acquiring stolen technologies and developing cutting-edge technologies through reverse engineering and re-innovation. Notably, Ministry of State Security focuses on HUMINT espionage activities to steal technologies. Consequently, China has reduced the time and cost of cutting-edge technology development, which is leading to changes in the global value chain.