NEW YORK (TheStreet) -- The U.S. and China have a combined annual GDP of roughly $30 trillion, according to the IMF, and as Chinese President Xi Jinping recently pointed out, their business interests are becoming increasingly intertwined. Given that growing convergence, which are the companies we should be watching?
Boeing (BA - Get Report) was graced with a visit from the Chinese premier during his first U.S. state visit, underscoring the mutually beneficial relationship between the two. The company landed $38 billion worth of manufacturing orders from China, and has invested in a state-of-the-art factory there, its biggest industrial expansion on foreign soil. Boeing has estimated potential sales to China worth around $950 billion over the next two decades. China's flight traffic is also expected to increase almost 7% year-over-year as the country opens numerous new flight paths.
Apple (AAPL - Get Report) has seen its Chinese revenue spike, as it takes advantage of China's demand for the latest smartphones and grabs market share from local competitors such as Xiaomi and Huawei. Greater China currently provides around 20% of Apple's revenue, helping to mitigate slowing iPhone sales in Western nations. Thanks to Chinese consumers, Apple sold a record breaking 13 million iPhone 6S and 6S Plus models in their first three days on the market.
Wynn Resorts (WYNN - Get Report) generated 70% of its revenue in China last year, so it has been acutely feeling the effects of the Chinese slowdown and the government's corruption crackdown. The company has seen its casino revenues plunge over the last year, in ine with overall trends in Macau. But the stock surged 23% last week following reports that the Chinese government may step in to boost the region's struggling gambling industry. The number of Chinese visitors to Macau during China's week-long national holiday in October was up 22%, a substantial increase from last year's numbers.