According to the Hollywood Reporter, Chinese theater, real-estate and hotels conglomerate, Dalian Wanda Group, has announced plans to expand globally with the purchase of "one or two large international entertainment companies".

Wanda's chairman, Wang Jialin, revealed in a statement on the company's website that it is looking to internationalize through key overseas investments and acquisitions in the second half of this year.

Wanda's investment arm is currently in negotiations with certain companies.

Through its strategic plans in the coming years, Wang says Wanda plans to become among China's first "truly international" company.

He notes that, among the 95 Chinese enterprises listed on the Fortune Global 500, few were multinational companies like the European and U.S. businesses that also made the list.

With its 2.6-billion-US-dollar acquisition of North American theater chain, AMC Entertainment, in 2012, Wanda became the biggest cinema operator in the world.