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Domestic activities boost M&As in Q2
By Zhang Fengming |
July 28, 2009, Tuesday
|
Print Edition
Print Edition
CHINA'S merger and acquisition activities picked up in the second quarter this year with a recovery in its economy and a strong expansion in the real estate, an industry report said yesterday.
There were 811 transactions completed in the second quarter compared with 616 in the first quarter, a PricewaterhouseCoopers report revealed yesterday, quoting data supplied by Thomson Reuters. Domestic deals took up 708 in the second quarter from 519 in the first quarter while foreign-backed deals rose to 103 from 97 in the same period.
"The recovery in the second quarter is driven by domestic activities while foreign inbound activities remained subdued," said Benjamin Ye, PwC's transaction services lead partner in Shanghai. "Domestic deals are likely to recover to 2008 level during the second half of this year as China's economy continues to recover."
China's economy expanded 7.1 percent in the first half, with a growth of 7.9 percent in the second quarter.
China's relatively easy monetary policy helped domestic investors as banks granted 7.37 trillion yuan (US$1.1 trillion) of new loans in the first half, which has already surpassed the 5-trillion-yuan target set at the start of the year.
The value of property deals more than doubled to US$4.9 billion in the second quarter from US$2.3 billion in the previous quarter, according to the report.
There were 811 transactions completed in the second quarter compared with 616 in the first quarter, a PricewaterhouseCoopers report revealed yesterday, quoting data supplied by Thomson Reuters. Domestic deals took up 708 in the second quarter from 519 in the first quarter while foreign-backed deals rose to 103 from 97 in the same period.
"The recovery in the second quarter is driven by domestic activities while foreign inbound activities remained subdued," said Benjamin Ye, PwC's transaction services lead partner in Shanghai. "Domestic deals are likely to recover to 2008 level during the second half of this year as China's economy continues to recover."
China's economy expanded 7.1 percent in the first half, with a growth of 7.9 percent in the second quarter.
China's relatively easy monetary policy helped domestic investors as banks granted 7.37 trillion yuan (US$1.1 trillion) of new loans in the first half, which has already surpassed the 5-trillion-yuan target set at the start of the year.
The value of property deals more than doubled to US$4.9 billion in the second quarter from US$2.3 billion in the previous quarter, according to the report.
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