China's outbound deals valued at $102bn for year to date

Chinese firms have already spent a record US$102 billion on outbound acquisitions in 2015 so far, Reuters reported, citing financial data from the companies involved. The growth of 46% over last year follows a 20% drop in 2014 and may bode well for the year ahead. “China is on the move, we are preparing for a busy year for deal making,” said Joseph Gallagher, head of M&A for Asia Pacific at Credit Suisse. “Chinese outbound activity is set to pick up with a focus on the semi-conductor, power and financial sectors.” Bankers also expect more M&A among mainland firms, particularly technology companies.