Chinese companies are always said to be planning a big overseas push. So far, the expected surge in cross-border acquisitions by mainland corporations has largely failed to materialise. In 2015, most will once again decide that overseas growth can wait.
The prospect of deep-pocketed Chinese companies snapping up overseas rivals has long excited bankers and lawyers. Yet cross-border activity has been more of a trickle than a wave. With three weeks to go until the end of the year, outbound merger and acquisition activity by Chinese companies totalled just $52 billion. That's a fifth less than in the previous year.
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