Chinese companies have been on a buying spree this year, pushing outbound MA 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.
The Chinese government has clearly noticed. On Tuesday evening, four major regulators offered a subtle confirmation that they were clamping down on “irregular” offshore purchases.
“We support capable corporations to conduct legitimate and compliant outbound investments in the mean time, we’ve been closely watching a tendency where some companies make irrational investments in the areas such as real...
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