Hainan Airlines the largest privately owned airline in China is planning to buy Malev Hungarian Airlines from the Hungarian Government.
This will be the first time a European airline has been bought by a Chinese company. According to wikipedia:
"While operating one of China's largest commercial Airlines, Hainan Airlines also operates numerous subsidiaries in a variety of related and unrelated industries, including: 11 airports, 47 hotels and inns, 13 financial service providers, 5 marine transport firms and 2 retailers"
The difference in economic scale between China and European nations has rarely been so clearly demonstrated and this will surely not be the last transaction of this nature in the decade ahead.