Overseas Chinese M&A spending spree just keeps on growing

Haier HQ in Qingdao

Chinese M&A: Chinese companies have already spent an estimated $73bn on 82 overseas M&A deals this year, according to Business Insider, with the Qingdao-based Haier leading the charge with its acquisition of  General Electric and  Zoomlion bidding for industrial equipment manufacturer Terex. This represents a significant rise over the same period last year, by which time 55 deals worth $62bn had been completed. 
“With the slowdown of the economy, Chinese corporates are increasingly looking to inorganic avenues to supplement their growth,” said Vikas Seth, head of emerging markets at Credit Suisse. “Some of the primary motivations for cross-border acquisitions are access to new markets, brands, technologies, R&D capabilities, and, in some cases, to products and supply chains that can be sold into a buyer’s distribution networks within China. We think this pace will be sustained since China is going through a remarkable transformation of its economy.”

Source: yibada