Chinese companies drive deals with ‘Go Global’
China is seeing mergers and acquisition rise as its leaders push companies to “go global”, an analyst said.
The new leaders “want to open their market more, especially to outside companies. From that perspective, you can say the new leaders give more hope to Chinese domestic players to go overseas to compete in the global market,” Yingying Xu, an economist with the Manufacturers Alliance for Productivity and Innovation, an industry trade group, told China Daily.
China is expected to overtake Japan as No 1 in overseas mergers and acquisitions this year. So far this year, Chinese companies have made $56.2 billion in overseas M&A deals, below last year’s $62.1 billion total, but beating the $40.7 billion of deals done by Japanese firms, according to data provided by Thomson Reuters.