Chinese enterprises' overseas mergers decline in 2012

Chinese enterprises on the mainland conducted 191 overseas mergers in 2012, compared with 206 in 2011, auditing firm Price Waterhouse Coopers said on Wednesday.

The firm said in a report on China's merger activity that despite declining mergers, transactions hit a record high of 65.2 billion U.S. dollars in 2012, surging 54 percent from 42.4 billion U.S. dollars in 2011.

The report attributed the merger decline to the slow recovery of western economies, an unstable situation in the eurozone and a slowdown in the Chinese economy.

However, the report predicted that overseas mergers conducted by enterprises on the Chinese mainland will see a strong rebound in 2013.