Chinese M&A: Despite Beijing’s attempts to tighten control of capital, Chinese outbound investment in the form of mergers and acquisitions hit a new record of $111bn for the first five months of this year, already smashing the $108bn it posted for the whole of 2016, according to the Swiss-based investment bank UBS. Chinese outbound investment now accounts for over 26% of all global M&A by volumes, the MD of the bank’s M&A operation Samson Lambert Lo said, referring to figures compiled by the financial markets platform Dealogic. “We’ve noticed that Chinese buyers have become more sophisticated and bold in their outbound investments,” he added, noting that Chinese companies were interested in investing in a broad range of industries, including consumer products, health-care and technology.
Among the major deals contributing to this surge were the state-owned China National Chemical Corporation’s agreement to buy Swiss crop seeds and pesticides company Syngenta for $43bn earlier this year. Expected to be completed by the end of the year, this would be China’s largest overseas acquisition to date.