The United States has long been recognized as the world’s leading military and economic superpower. It is home to the world’s largest corporations, most ambitious infrastructure projects, and wealthiest individuals. For the past century, the U.S. has held this dominant position unchallenged. However, the arrival of the 21st century introduced a new contender: China. China has gradually reshaped the global landscape, directly challenging the U.S. Many analysts now predict that China may surpass the U.S. in the coming decades. But beyond the possibility of China overtaking the U.S., there’s another concern: China’s increasing ownership of major American corporations. Chinese investments, from private businesses to state-owned enterprises, have poured tens of billions of dollars into American assets, making China one of the most significant foreign investors in the United States. So, how much money has China invested in the U.S., and which companies have they acquired? Let’s explore some of the most notable examples.
Starting with corporations, Chinese state-owned enterprises and private businesses have been highly active in acquiring American companies. One surprising acquisition, which many people may not be aware of, is AMC Theatres. AMC is the largest movie theater chain in the world. In 2012, the Chinese company Wanda Group invested $2.6 billion to acquire AMC’s 5,048 screens in 347 theaters across the U.S. and Canada. By 2021, Wanda Group exited its investment in AMC.
Another major acquisition involves Smithfield Foods, one of the world’s largest pork producers. Smithfield is a billion-dollar company with significant influence in the U.S. agriculture industry. Founded in 1936, Smithfield is an important part of American history. However, the company faced financial difficulties following the 2008 financial crisis. By 2013, revenues had stagnated, and Smithfield was under pressure to either cut costs or consider selling parts of the business.
Enter Shuanghui International from China, which offered a premium to buy the company, along with access to the growing Chinese market, where pork consumption was increasing, unlike in the U.S. market. Despite concerns about tarnishing Smithfield’s “all-American” image and potential risks from Shuanghui’s past environmental issues, the $4.7 billion deal went ahead. In 2013, Shuanghui International, now known as WH Group, signed a merger agreement valuing Smithfield at $7.1 billion, including the assumption of Smithfield’s net debt.
Motorola Mobility, another well-known U.S.-based company specializing in consumer electronics and mobile devices, also came under Chinese ownership. In 2014, Lenovo, a Chinese tech giant, acquired Motorola from Google. This deal, which included the Motorola brand and its portfolio of smartphones such as the Moto X, Moto G, Moto E, and the DROID™ series, positioned Lenovo as the world’s third-largest smartphone maker. Lenovo continued to operate Motorola as a wholly-owned subsidiary, maintaining its headquarters in Chicago, and added nearly 3,500 employees globally, including about 2,800 in the U.S. The total purchase price was approximately $2.91 billion, consisting of cash, newly issued Lenovo shares, and a promissory note to Google.
One of the most controversial acquisitions was by the Chinese sovereign wealth fund, China Investment Corporation (CIC), which acquired a 9.9 percent stake in Blackstone Group in 2007. Blackstone is the world’s largest alternative asset manager, with over $1 trillion in assets under management. The controversy stemmed from CIC being a state-owned entity, effectively giving the Chinese government an indirect stake in one of America’s largest businesses. Fortunately, CIC sold off its stake in Blackstone in early 2018 amid rising tensions between Washington and Beijing over economic policies. Despite the divestment, Blackstone continues to maintain close ties with CIC and the Chinese government. In 2017, Blackstone sold Logicor, a logistics and warehouse property owner, to CIC for $14.3 billion.
Beyond corporations, China has also become one of the largest landowners in the U.S. In 2024, it was reported that a Chinese billionaire, identified as a member of the Chinese Communist Party (CCP), became the second-largest foreign landowner in the United States. Chen Tianqiao, founder and CEO of Shanda Group, owns approximately 200,000 acres of land in Oregon, including Bull Springs Skyline Forest, which spans 33,000 acres and features springs, creeks, timberland, and wildlife. Chen’s acquisition, made in 2015 for $85 million, made him the 82nd-largest property owner in the U.S. and the second-largest foreign landowner.
Chinese investments also extend to prominent U.S. buildings. One of the most notable acquisitions was the Waldorf Astoria in New York City. In 2014, Anbang Insurance Group, a Beijing-based conglomerate, purchased the Waldorf Astoria from Hilton Worldwide for $1.95 billion. However, in 2018, the Chinese government took control of Anbang, bringing the Waldorf Astoria under direct Chinese government control. Anbang had also acquired other properties through Strategic Hotels & Resorts, including the JW Marriott Essex House in Manhattan and the Four Seasons Hotel in Washington, D.C. Since then, the Chinese government has divested several of these assets.
These acquisitions might seem small compared to the trillions of dollars circulating in the U.S. economy, but they highlight a growing presence of Chinese ownership in American brands, properties, and land. Beyond these examples, China’s largest investment in the U.S. comes through U.S. Treasury securities. China is one of the largest foreign holders of American debt, with over $710 billion in U.S. Treasuries as of April 2024, second only to Japan. This significant investment reflects both China’s trust in the stability of the U.S. economy and the leverage it holds in international finance. Any major move by China to sell off U.S. Treasuries could have immediate global repercussions, affecting financial markets and interest rates.