China's Dalian Wanda to invest $1b in Sydney

China's real estate developer Wanda acquired US cinema chain AMC Entertainment at $2.6 billion in 2012, drawing worldwide attention.

The company announced an investment of 45 million euros ($52 million) for a 20 percent of stake in the Spanish football Club Atletico Madrid, marking the first time that a Chinese company has invested in a top flight European football club, chinadaily.com.cn reported on Jan 21.

Wanda aims to raise its business revenue to 600 billion yuan ($97 billion) by 2020, with 30 percent hopefully coming from overseas businesses, according to Xinhua News Agency.

Wang Jianlin (C), chairman of Dalian Wanda Group, holds an Atletico Madrid jersey with his name, to pose for a photo with Atletico Madrid's President Enrique Cerezo (R) and managing director Miguel Angel Gil after a signing ceremony in Beijing, Jan 21, 2015. [Photo/Agencies]