China set to pass Ja­pan

Weekend Argus (Saturday Edition) - - BUSINESS -

HONG KONG: China is set to be­come Asia’s leader in out­bound cor­po­rate ac­qui­si­tions this year, end­ing Ja­pan’s twoyear reign, as the coun­try’s ap­petite for over­seas tar­gets ex­pands be­yond nat­u­ral re­sources and into ar­eas such as food and bank­ing.

So far this year, Chi­nese com­pa­nies have launched $56.2 bil­lion of over­seas M&As, led by Shuanghui In­ter­na­tional Hold­ings’ $7.1bn pur­chase of Smith­field Foods. This is far ahead of the $40.7bn in deals done by Ja­panese firms.

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