China passes US in outbound M&A
China has surpassed the US as the largest source of outbound mergers-and-acquisition activity as a built-up mainland looks for other investment opportunities overseas.
According to Dealogic, in the first nine months of the year, the total value of mergers and acquisitions (M&A) by Chinese companies jumped 68 percent year-on-year to $173.9 billion. It was the first time China has done more deals than the US. Dealogic said the US had been the top cross-border acquirer since 2008.
Analysts said a slowdown in domestic growth due to a mainland economy that is emphasizing services and consumption over manufacturing exports, and a depreciating currency that could make future deals more expensive are helping to spur the Chinese shopping spree.