Chinese companies have been on the search for overseas assets this year, leading to a huge jump in the volume of outbound mergers and acquisitions from the country.
The United States had benefited from around $34.85bn of outbound M&A from China by September 5, almost 12 times the amount they had closed during the same period in 2015.
But the uncertainty of approvals from US regulators has held volumes back from being even higher. Europe’s more predictable approval regime has led to a boon, bankers said.
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There is some debate between bankers over how sensible a lot of these deals are. Where some M&A bankers see strategic assets, others see a mad dash to get money out of China.
And regardless of what motivates this wave of deals, Chinese companies have a great deal to learn about how to make overseas M&A work.
But whatever the truth, the numbers don’t lie. This is a record year for China M&A.
Data provided by Dealogic.