China has overtaken the US in outbound mergers and acquisitions for the first time, underscoring a global buying spree driven by the Chinese economy’s growth over three decades and Beijing’s programme to encourage companies to buy assets and technology from abroad.
In the first nine months of the year the total value of mergers and acquisitions by Chinese companies jumped 68 per cent year on year to US$173.9 billion, according to data by Dealogic.
The US has been the top cross-border acquirer in the first nine-month period since 2008, according to Dealogic.
