Iconic American Companies Owned by Chinese Investors

Headquarters: Los Angeles, California
Bought By: Songcheng Performance Development
Headquarters: Hangzhou, Zhejiang, China

Universal Space Amusement (UNIS), a leading manufacturer of amusement machines, is headquartered in Hong Kong. Though technically not an American company, it has a substantial presence and influence in the American amusement market. In 2012, UNIS expanded its reach in North America by acquiring a significant stake in Family Fun Companies, an Illinois-based manufacturer of amusement devices.

This acquisition accentuates China’s ambition to extend its footprint in the global entertainment industry. Through strategic investments like these, Chinese companies aim to leverage American expertise, market presence, and branding to elevate their own profiles and competencies in the competitive amusement industry.

Headquarters: Richmond, Virginia
Bought By: China Oceanwide Holdings Group
Headquarters: Beijing, China

Headquartered in Richmond, Virginia, Genworth Financial is a Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families, and futures. In 2016, China Oceanwide, a privately-held, family-owned investment conglomerate based in Beijing, agreed to acquire Genworth Financial for $2.7 billion.

After years of regulatory scrutiny and delays, the deal was eventually called off in 2020. However, the initial agreement is indicative of China’s growing interest in penetrating the U.S. financial sector. The deal would have given China Oceanwide a significant foothold in the U.S. insurance market, potentially paving the way for further Chinese investments in this lucrative sector.

Headquarters: Westport, Connecticut
Bought By: Zoomlion
Headquarters: Changsha, Hunan, China

Terex Corporation, headquartered in Westport, Connecticut, is a heavy equipment manufacturer known for delivering reliable and efficient machinery for a range of industries including construction, transportation, and energy. Although a full acquisition by Zoomlion, a leading Chinese construction equipment manufacturer, fell through in 2016, the attempted purchase highlighted China’s expanding ambitions in the global heavy machinery market.

Chinese firms’ interests in prominent American manufacturers like Terex Corporation signals a drive to access high-quality, technologically advanced machinery and equipment to bolster their domestic capabilities.

Headquarters: Auburn Hills, Michigan
Bought By: Pacific Century Motors (a joint venture of Tempo Group and AVIC Automobile Industry Holding Co.)
Headquarters: Beijing, China

Nexteer Automotive, a global leader in intuitive motion control, is headquartered in Auburn Hills, Michigan. The company was once a part of General Motors, but in 2010, it was acquired by AVIC Automobile Industry Holding Co., a subsidiary of state-owned aviation company Aviation Industry Corporation of China (AVIC).

The acquisition, which marked one of the largest Chinese investments in the U.S. auto parts sector at the time, came with a commitment to protect jobs and maintain investment in Nexteer’s facilities. This deal underscores China’s strategic move to access sophisticated technology and know-how from established American companies, thereby bolstering its own auto parts industry and global competitiveness.

Headquarters: Auburn Hills, Michigan
Bought By: Aviation Industry Corporation of China (AVIC)
Headquarters: Beijing, China

Henniges Automotive, an Auburn Hills-based global supplier of sealing and anti-vibration systems for the auto industry, was acquired in 2015 by China’s Aviation Industry Corporation (AVIC). This state-owned enterprise, devoted to aerial vehicle manufacturing, and aviation partnered with Beijing WKW Automotive Parts for the acquisition.

The purchase served as an indicator of China’s enthusiasm to take over companies with strong technical acumen. It showcased China’s intention to enhance its automotive manufacturing capacities and their forward strategy to procure dominant entities in pivotal sectors.