China FX watchdog bares teeth on M&A financing
China’s foreign exchange regulator is toughening its stance on raising debt offshore by pledging domestic assets. The crackdown will slow outbound acquisitions.
August 06, 2017
Chinese companies have been on a buying spree this year, pushing outbound M&A volumes to record levels. But some of these deals have left bankers scratching their heads, appearing motivated less by strategic imperatives and more by an abundance of liquidity — and a willingness to buy almost anything.
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