China Global Outbound Investment: Zero COVID Paralyzes Dealmaking

Chinese outbound M&A fell to new lows in April to only $35 million in new publicly announced transactions, down from $200 million in March and the lowest level in at least the past decade. Global venture activity by Chinese funds and companies declined for a fifth consecutive month in terms of both transaction value ($190 million) and count (45 deals), down from 69 deals valued at $280 million in March. Meanwhile, momentum is building on investment screening as China’s economic outlook deteriorates.

Posted July 22, 2022
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China Global Outbound Investment: Small Rebound as Lockdowns Ease

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.

Posted July 22, 2022
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China Outbound Recap: Grinding to a Halt

Chinese outbound M&A activity fell sharply in March, with only $184 million in newly announced transactions, down from $960 million in February and among the lowest on record. Venture capital activity dropped for the fourth month straight,  with announced deal values totaling $280 million.

Posted May 5, 2022
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