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China's cross-border M&A dropped by 30% in 2008

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-01-19 16:55

China's cross-border merger and acquisition (M&A) activities in 2008 remained active, though it dropped by 30 percent year-on-year in terms of transaction amount, according to a report released by market researcher Zero2IPO Group on Monday.

The cross-border acquisition activities in China amounted to about $13 billion last year. The M&A in two industries, media and telecom (TMT) and energy industry, hit the highest record in history, with an amount of $20.23 billion and $7.8 billion respectively.

"Some companies hold the wait-and-see altitude in 2008, since there are still many uncertainties in the market. So some new deals are likely to show this year," said Zheng Xingguo, vice-president with Zero2IPO Group.

The report also predicted that energy industry would remain the important filed in cross-border M&A for a long period, since domestic economy much rely on resources to gain a high-speed development.