China’s overseas acquisition spree, which surged to a record in 2016 before slumping in the first few months of this year, appears to be picking up strength again as state-owned companies stage a comeback while their private peers fall away.
A new study by Rhodium Group, a consultancy, shows that the number of overseas M&A deals announced by Chinese acquirers rose strongly in May and June after hitting low levels in February, March and April following the imposition of capital controls at the end of 2016.
“Following Chinese regulators crackdown on ‘irrational’ outbound foreign direct investment in November and December of 2016, new deal activity slowed sharply,” wrote Thilo Hanemann, director at Rhodium Group, in a report.
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