Chinese companies spending billions buying up the world
China's almighty global spending spree
Chinese companies, many of which are state-owned, have ploughed a staggering $2 trillion (£1.6tn) into foreign businesses and construction projects since 2005, buying up everything from prestigious banks and hotel chains to major energy producers. Using the data of the American Enterprise Institute's China Global Investment Tracker, we give you the lowdown on the Asian superpower's investment frenzy and reveal 25 of the biggest and most high-profile purchases.
HNA bought Irish aircraft leasing company Avolon: $5.2 billion (£4.2bn)
Chinese conglomerate HNA splashed $50 billion (£40bn) on numerous foreign firms during 2016 and 2017, running up huge debts. In January 2016, the group, which spans aviation, financial services, tourism and more, finalised the purchase of Irish aircraft leasing company Avolon via its subsidiary Bohai Leasing, paying $5.2 billion (£4.2bn) for the privilege.
Zhao Ge/Xinhua News Agency/PA
CNPC bought a stake in a Kazakhstani oil and gas company: $5.3 billion (£4.2bn)
Bolstering China's dominance of Kazakhstan's energy industry, the China National Petroleum Co (CNPC) acquired an 8% stake in KazMunayGas National for $5.3 billion (£4.2bn) in July 2013. Both entities are state-owned oil and gas enterprises with numerous subsidiaries.
Haier bought General Electric's appliance division: $5.4 billion (£4.3bn)
China's outbound foreign direct investment (FDI) in the US skyrocketed to a record $45.6 billion (£36.5bn) in 2016 but has fallen back considerably since then due to the recent trade dispute with the US. In January 2016, however, General Electric offloaded its appliances division to China's Haier, which boasts the world's largest market share in white goods. All in all, the deal was worth some $5.4 billion (£4.3bn).
Ahmad Al-Rubaye/AFP/Getty
CNPC bought a stake in Iraq's Rumaila oilfield: $5.6 billion (£4.5bn)
Back in October 2009, the China National Petroleum Co (CNPC) acquired a 37% stake in a massive Iraqi oil extraction project, parting with $5.6 billion (£4.5bn) to clinch the deal. The project to extract oil from the vast Rumaila oilfield is a joint-venture between CNPC, Britain's BP and Iraq's state-controlled South Oil.
A3397 Gero Breloer/DPA/PA
ICBC bought a stake in South Africa's Standard Bank: $5.6 billion (£4.5bn)
One of China's 'Big Four' government-owned commercial banks, the Industrial and Commercial Bank of China (ICBC) paid $5.6 billion (£4.5bn) in October 2007 for a 20% stake in South Africa's Standard Bank. When adjusted for inflation, this is the largest single China-Africa investment ever. Chinese investment in Africa and the Middle East is increasing, with thousands of ambitious infrastructure projects.
Bill Wechter/Zuma Press/PA
Anbang bought American company Strategic Hotels & Resorts for $5.7 billion (£4.6bn)
After buying New York's Waldorf Astoria Hotel for $2 billion (£1.6bn) from private equity firm Blackstone, Chinese insurance titan Anbang bagged America's Strategic Hotels & Resorts in March 2016, stumping up $5.7 billion (£4.6bn). The company has since been seized by the Chinese government over corruption concerns and is in the process of getting rid of its portfolio of trophy hotels.
Kenzaburo Fukuhara/AFP/Getty
CEEC, PowerChina and Sinopec's invested in Nigeria's Mambilla Power Station: $5.8 billion (£4.6bn)
Last December, a consortium made up of China Energy Engineering Corporation (CEEC), PowerChina and Sinopec invested $5.8 billion (£4.6bn) in Nigeria's 3,050-megawatt Mambilla Power Station, which is one of Africa's leading hydroelectricity projects.
Wu Lu/Xinhua News Agency/PA
COSCO invested in Greek port Piraeus: $5.8 billion (£4.6bn)
Chinese companies have pumped billions into buying up maritime infrastructure and now hold stakes in more than a dozen ports in Europe. The facilities have been dubbed 'China's Trojan ports' by some commentators, who worry they might be used for military purposes. The China Ocean Shipping Company (COSCO) got the ball rolling in November 2008 when it invested $5.8 billion (£4.6bn) in the Greek port of Piraeus.
CGN bought Malaysian energy company Edra: $6 billion (£4.8bn)
In November 2015, troubled state-owned investment fund 1Malaysia Development Berhad agreed to sell energy company Edra to China General Nuclear (CGN) for $6 billion (£4.8bn). The firm owns and operates 13 power and desalination plants in five countries.
Kris Tripplaar/SIPA USA/PA
HNA bought American computer parts distributor Ingram Micro: $6 billion (£4.8bn)
Another of Chinese conglomerate HNA's major acquisitions, US computer parts distributor Ingram Micro was acquired by the Chinese conglomerate in February 2016 for $6 billion (£4.8bn). Having discovered it had bitten off more than it can chew, the group is currently trying to sell the American firm.
HNA also bought a stake in Hilton Worldwide: $6.5 billion (£5.2bn)
Staying with mega-acquisitive HNA, the group snagged Blackstone's 25% stake in hotel chain Hilton Worldwide for $6.5 billion (£5.2bn) in October 2016, but didn't hold on to it for long. Drowning in debt, the conglomerate was forced to sell the stake in April last year.
China Minmetals, Suzhou Guoxin and CITIC bought Peru's Las Bambas copper mine: $7 billion (£5.6bn)
A consortium made up of metals and minerals trading company China Minmetals, conglomerate Suzhou Guoxin and the Chinese state-controlled investment company CITIC acquired Peru's Las Bambas copper mine in April 2014 for $7 billion (£5.6bn). British-Swiss mining behemoth Glencore sold its interest in the mine to garner the Chinese government's approval for its merger with Xstrata.
Shuanghui bought American pork company Smithfield Foods: $7.1 billion (£5.7bn)
The demand for pork, China's meat of choice, has soared as the country's middle class has expanded. To help meet the rise in consumption, China's number one pig meat producer Shuanghui (now WH Group) purchased the world's largest pork company Smithfield Foods in May 2013, paying a total of $7.1 billion (£5.7bn).
Sinopec bought a stake in Spanish energy company Repsol's Brazilian unit: $7.1 billion (£5.7bn)
In October 2010, Chinese oil and gas enterprise Sinopec bought a 40% stake in Spanish energy company Repsol's Brazilian unit. The $7.1 billion (£5.7bn) deal has expanded Sinopec's international operations and allowed Repsol to explore untapped oil reserves in the South American country.
Fabrice Coffrini/AFP/Getty
Sinopec also bought Swiss-owned oil company Addax Petroleum: $7.2 billion (£5.8bn)
The Repsol investment followed Sinopec's $7.2 billion (£5.8bn) takeover of Switzerland's Addax Petroleum, which was agreed in June 2009. Now a subsidiary of the Chinese oil and gas company, Addax Petroleum is one of the biggest oil producers in West Africa.
ChemChina and SAFE bought Italian tyre company Pirelli: $7.9 billion (£6.3bn)
Famed for its quality tyres and arty calendars, Italy's Pirelli was acquired in June 2015 for $7.9 billion (£6.3bn) by a consortium led by agrochemicals and rubber manufacturer ChemChina. The Chinese firm has since relinquished control of the Italian tyre-maker, which has been relisted on the Milan stock exchange.
Tencent bought a majority stake in Finnish games developer Supercell: $8.6 billion (£6.9bn)
Eager to increase its overseas reach and profile, Chinese video games and social media leviathan Tencent bought an 84.3% stake in Finland's Supercell in June 2016 in a deal worth $8.6 billion (£6.9bn). Supercell is best known for the hugely-popular smartphone games Clash of Clans and Hay Day.
Geely bought a stake in German carmaker Daimler: $9 billion (£7.2bn)
Harbouring aspirations to become the Chinese equivalent of Volkswagen, Geely followed up its acquisition of Volvo Cars and Lotus to bag a 9.7% stake in Daimler, the German automaker that owns Mercedes-Benz, Smart Automobile and other notable marques. The $9 billion (£7.2bn) deal, which was agreed in February 2018, made Geely its biggest single shareholder.
Vanke, Hopu, Hillhouse and Bank of China bought a major stake in Singaporean warehouse company GLP: $9.1 billion (£7.3m)
A Chinese consortium made up of property developer Vanke, investment companies Hopu and Hillhouse and Bank of China pulled off Asia's largest private equity buyout in November 2017 when it acquired a 79% stake in Singaporean warehouse operator Global Logistics Properties (GLP) for $9.1 billion (£7.3m).
Anthony Wallace/AFP/Getty
Ping An bought a stake in global bank HSBC: $9.7 billion (£7.8bn)
China's second-biggest insurance company Ping An purchased a 5% stake in Hong Kong-British bank HSBC in December 2017 and is now the bank's leading single shareholder after increasing its share of the business to 7%. Ping An was attracted by HSBC's stable dividends and robust growth potential.
HNA bought American company CIT Group's aircraft leasing business: $10.4 billion (£8.3bn)
HNA made its largest-ever acquisition in April 2017 when it bought US company CIT Group's aircraft leasing assets for $10.4 billion (£8.3bn). The purchase, which was made via HNA subsidiary Avolon, has established HNA as one of the world's leading aircraft leasers.
Chinalco bought a stake in mining giant Rio Tinto: $12.8 billion (£10.3bn)
Now the world's third-biggest aluminium producer, Chinalco, which is owned by the Chinese government, acquired a minority stake in British-Australian mining company Rio Tinto in February 2008 in a deal worth $12.8 billion (£10.3bn).
CIC bought pan-European warehouse company Logicor: $13.8 billion (£11.2bn)
Chinese sovereign wealth fund China Investment Corporation (CIC) closed Europe's largest-ever private equity property deal in July 2017 when it acquired pan-European warehouse business Logicor from America's Blackstone for $13.8 billion (£11.2bn). However, a number of Western countries have become increasingly suspicious of China's motives, tightening foreign takeover rules and discouraging Chinese investment in certain sectors.
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CNOOC bought Canadian oil and gas company Nexen: $15.1 billion (£12.1bn)
The Chinese government-controlled China National Offshore Oil Corporation (CNOOC), which is the country's third biggest oil producer, got its hands on offshore production facilities in the Gulf of Mexico, North Sea and the Atlantic off Western Africa when it bought Canada's oil and gas company Nexen in December 2012 for $15.1 billion (£12.1bn).
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ChemChina and China Reform Holdings bought Swiss agrochemicals and seed company Syngenta: $43 billion (£34.5bn)
Chinese state-owned chemicals company ChemChina teamed up with the Chinese government's sovereign fund China Reform Holdings in June 2017 to buy Swiss agrochemicals and seeds company Syngenta for $43 billion (£34.5bn), eclipsing all over FDI deals. Uncertainties over its ability to integrate the Swiss firm, however, have led to speculation ChemChina may sell on the business.
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