LINE

Text:AAAPrint
Economy

China becomes world's top cross-border buyer with $110b deals

1
2016-05-13 08:43chinadaily.com.cn Editor: Xu Shanshan

Chinese companies have signed more than a dozen overseas deals worth $110.8 billion so far this year, already surpassing the full-year record of $106.8 in 2015, The Wall Street Journal reported.

The newspaper quoted Dealogic, a UK-based data provider, saying that 17 cross-border deals were valued at $1 billion or more, including China National Chemical Corp's $43 billion cash offer for a Swiss pesticide and seed company Syngenta.

As the current top cross-border buyer, the country could likely finish the year first and that would for the first time ever place it on the throne, ahead of the United States. The US has dominated the rankings in overseas acquisitions since 2007.

Chinese firms have been beefing up efforts to extend their global outreach, despite the globally gloomy outlook.

An earlier report by Ernst & Young (EY) said the country's overseas investment is expected to increase more than 10 percent in 2016 and keep the momentum in the next five years.

EY said the value of overseas M&A surged 74 percent last year, led by such sectors as TMT, 163 percent year-on-year growth, auto and transportation, 128 percent, and financial services, 101 percent.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.