Mergers and acquisitions in China declined 33% year-on-year in the first half of 2012, as enthusiasm for foreign inbound investment and private equity deals waned, state media reported quoting data from accounting firm PricewaterhouseCoopers. PwC tracked a total of 1,823 M&A deals on the mainland in the first half of the year, compared with 2,709 deals during the same period last year. The total deal value also fell 10% to US$78.9 billion, the data showed. Foreign investment deals showed particular weakness, falling 42% to 156 total deals in the first half as foreign investors faced uncertainties in their own markets. Private equity deals valued at US$10 million or more dropped 39% to 129 deals, as dealmakers lengthened processing times in anticipation of a further decline in prices, said PwC.