Did you almost choke on your cornflakes when you heard Shanghai firm Bright Food had bought a majority stake in Weetabix?
Don't be so surprised. In January, chief economist and head of global research at Standard Chartered Gerard Lyons told the Guardian we were heading for a new era of "owned by China."
"The last decade could be characterised by the three words 'made in China'. In this next decade, it will be 'owned by China'."
So, from cereal to FTSE shares, here is a list of seven things you (probably) didn't know China owned.
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MG
After the car company MG Rover Group went into administration, it was bought by the NAC, a carmaker <a href="http://www.guardian.co.uk/artanddesign/2011/apr/12/mg-new-car-china-birmingham" target="_hplink">in China which then merged with the Shanghai Automotive Industry Corporation. </a>
Thames Water
China own a 9% share in Thames Water. Speaking to BBC Radio 4's Today programme about the acquisition, <a href="http://www.bbc.co.uk/news/business-16643989" target="_hplink">former business minister Lord Digby Jones said it was "good news":</a> "In Britain, and the water companies know this, [infrastructure] needs constant repairs , so more funds in to help that when it's not a drain on the public purse has to be right."
US Debt
China owns $1,116,000,000,000 of US debt ($1.16 trillion) - 8%, <a href="http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt" target="_hplink">according to the US treasury.</a>
Shares
In 2008 The Sunday Telegraph reported China's central bank had £9bn of shares in <a href="http://www.telegraph.co.uk/finance/newsbysector/utilities/9027885/UK-firms-wont-buy-British-so-dont-whine-if-China-does.html" target="_hplink">FTSE 100 companies such as HSBC, Unilever and Tesco.</a>
Sainsbury's
.. Well not really. But according <a href="http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9234766/Asda-in-China-Thatll-be-Mr-Liu-in-Shenzhen.html" target="_hplink">to The Daily Telegraph China has registered British retail names such</a> as Sainsbury's and John Lewis. The paper notes this could pose "problems" if they should take "their brands to the Asian powerhouse."
US Factories
Yuncheng, a chinese company, bough 6.5 acres outside Spartanburg, South Carolina, and has a company there, American Yuncheng Gravure Cylinder plant. The property and electricity is cheaper - and as CNN money report "Chinese companies have invested $280 million and <a href="http://money.cnn.com/2010/05/06/news/international/china_america.fortune/index.htm" target="_hplink">created more than 1,200 jobs in South Carolina alone."</a>
Mining
The Aluminium Corporation of China bought 11% of the British-Australian mining group Rio Tinto in 2008.
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The Huffington Post UK | By Dina Rickman and Charlie Lindlar Posted: 3/05/2012 11:22 Updated: 3/05/2012 11:22