Chinese Q1 M&As hit record US$20.2b
Print Edition
PRIVATE companies have been driving outbound mergers and acquisitions by Chinese enterprises to a record high of US$20.2 billion in the first quarter, a report said yesterday.
In the first three months of this year, the transaction value of China’s outbound M&As surged 36 percent to a historical high of US$20.2 billion, according to a report released by PricewaterhouseCoopers.
The number of deals also jumped by 33 percent year on year to a record high of 77, with privately owned enterprises accounting for 68 percent of the M&As, said the report.
“The upward trend is expected to continue through the year to break records set in 2014 as the government has been encouraging outbound investment,” Andrew Li, PwC central China advisory leader, said at a media conference.
In 2014, there were 246 outbound deals, up 32 percent from a year earlier, valued at US$55 billion, data showed. The growth was boosted by low interest rates and a revival in China’s stock market, the report said.
While the value of deals sealed by private companies surged 94 percent last year, state-owned enterprises posted the first-ever decline of 48 percent, the report showed.
Li said “high technology, telecommunications and retail were the top popular sectors among private firms” as they sought technology, intellectual property and famous brands to bring back to China.
PwC projected that China’s “One Belt, One Road” program will prompt a shift in outbound M&As into investing in infrastructure and related industries.
PwC expects Chinese investors to increasingly tap developing countries in the Eurasia region to capitalize on China’s multinational economic development plan.
The United States and Europe remained the top spots for Chinese buyers last year, with Asia coming in third with a 90 percent surge in deal numbers.
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