China's U.S. shopping spree continues, Bloomberg Businessweek says.
On Dec. 9, Chinese auto parts and technology company Wanxiang Group won a bankruptcy auction to acquire lithium-ion battery-maker A123 Systems for $256.6 million, beating out competing bids by Johnson Controls, Siemens and NEC.
And today a consortium of Chinese financial firms agreed to purchase American International Group Inc.'s aviation-leasing business for $4.26 billion, setting a new record for the value of a single U.S. deal by a Chinese acquirer.
Wanxiang has already invested in some two dozen ailing factories, mainly in the Midwest, and has recently been putting money into clean technology.
These latest deals could cap a record-setting year, with Chinese companies spending more than $8 billion to acquire American companies, up almost 50 percent from 2011. Chinese investment has flowed into at least 37 states and most major cities. Read more.