The inflow of Chinese capital into Musk's business empire is primarily profit-driven and has little to do with technology transfer or influencing public policy, the people told the FT.
SpaceX, xAI and Neuralink did not immediately respond to requests for comment.
Musk has long had contact with senior Chinese officials, including President Xi Jinping.
Musk's electric vehicle (EV) company Tesla makes its Model 3 and Model Y cars in China and also exports its China-made EVs to markets including Europe, where sales plunged 45% in January.
Apart from Tesla, some of Musk's other ventures, including SpaceX and the social media platform X, which is banned in China, are viewed by Beijing as security risks.