US President Joe Biden. (Photo: Reuters)

China says the 60-meter balloon was for monitoring weather conditions, but Washington says it was a surveillance balloon with a massive undercarriage containing electronics. 

The intelligence community believes the objects were "most likely balloons tied to private companies, recreation or research institutions," Biden said, adding "We are not looking for a new cold war.”

Beijing had criticized Washington for overreacting by shooting down the balloon, and warned of "countermeasures against relevant US entities that undermine China's sovereignty and security."