The company says AMC's day-to-day operations will remain unchanged, and it will invest an additional $500 million to fund AMC's development.
Wanda said AMC's American management will remain in place and the headquarters will stay in the Kansas City area. It said staff numbers were not expected to be affected. The company employs some 18,500 people.
Wanda is a private company that operates hotels, department stores, tourism and other businesses around the world.
The Associated Press contributed to this report.