LINE

    Text:AAAPrint
    Economy

    Chinese businesses' outbound M&A slows in first quarter

    1
    2017-04-21 08:42Xinhua Editor: Gu Liping ECNS App Download

    Chinese businesses' overseas investment slowed in Q1 as regulators stepped in to contain reckless growth in the sector, according to a report by auditing company PricewaterhouseCoopers (PwC).

    Chinese businesses reported 142 mergers and acquisitions (M&A) deals overseas in Q1, down 39 percent from Q1 last year.

    In value terms, China's outbound M&A came in at 21.2 billion U.S. dollars, down 77 percent year on year,the PwC report said.

    Chen Chao with PwC attributed the slowdown to Chinese regulators' tightening requirements on overseas investments and rising uncertainties worldwide.

    Earlier data from PwC showed China's outbound M&A soared 246 percent by value to 221 billion dollars in 2016, more than the previous four years combined.

    Noting an "irrational tendency" in outbound investment, Chinese authorities have set stricter rules and advised companies to make their investment decisions more carefully.

    At a press conference on the sidelines of the annual parliamentary session last month, central bank governor Zhou Xiaochuan said the country is seeing overheated and hasty outbound investment in industries such as sports and entertainment that does little for China's economy and is not welcomed abroad.

    While promising efforts to contain the trend, Zhou reiterated the government stance of supporting and encouraging businesses to deepen mutually beneficial cooperation between China and other countries.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 陆河县| 铜陵市| 高唐县| 崇左市| 夏津县| 阳城县| 茂名市| 麻城市| 黔江区| 榕江县| 九台市| 泸溪县| 阳春市| 中山市| 东乡县| 宾阳县| 洛阳市| 万盛区| 新邵县| 芜湖县| 福安市| 淮南市| 洛扎县| 项城市| 威宁| 封开县| 广宗县| 谢通门县| 平舆县| 和静县| 庆云县| 墨竹工卡县| 湘乡市| 贵南县| 吉安县| 宜城市| 襄樊市| 琼结县| 中西区| 固安县| 三门县|