Chinese outbound M&A rebounded slightly in May to $500 million in newly announced transactions, still far below the $3 billion monthly average of 2021 but triple the average of the previous two months. Global venture activity by PRC funds and companies also rebounded slightly in May in value terms ($270 million), but continued to drop in volume terms (45 transactions compared to 49 in April). Most improvements in outbound M&A and VC correlates with the slight uptick in domestic economic activity.
