Assuming 8 trips per year in business class, you're looking at 720k US miles or 880k AA miles. I would try to acquire ~400k in each program when they are less than 1.5 cpm. Even at 1.5 cpm, we're only talking about $12,000 for 8 trips, or $1,500 each, and I'm guessing we could get that number down to $1250 with a few credit card applications; CLT-KMG generally costs more than this in economy class.

Optimal routings with US miles:

CLT-EWR-PEK-KMG
CLT-ORD/SFO/IAD-PEK-KMG

Optimal routings with AA miles:

CLT-JFK/YYZ-HKG-KMG

Optimal routing with DL miles

CLT-JFK-ICN-KMG

The next time DL miles go on sale, I suggest you get your balance up to 120k in order to support one round trip in business class; a credit card application would also get you very close. I don't advocate the idea of stocking up on DL miles in large quantities because they are hard to use, but you should be able to pull down one of your 8 round trips with them.