Asian companies invested a record $128.3 billion in the U.S. in 2016, up nearly 50% from $66.6 billion a year ago. Driving much of the growth was China, which surpassed Japan as the largest acquirer from Asia this year. In all, Chinese companies invested $67 billion this year, according to Dealogic, while Japanese investors put in about half that amount, or $32.6 billion. Compare that to a year ago when Japanese companies invested $34.4 billion while Chinese companies invested $11.9 billion.