Cash-rich Chinese banks and firms are splurging on mergers and acquisitions abroad.
Chinese M&As are being driven by domestic policies encouraging companies to acquire foreign assets amid the worsening Eurozone debt crisis.
So far this year, Chinese banks and other firms have put together 208 M&As with a value of US$93.1 billion compared to 107 deals worth US$13.6 billion in 2007, said the ChinaVenture Group, a research and consulting firm.
Energy and mining topped the list for Chinese M&As during the first three quarters of 2012. China is also diversifying its outbound direct investments (ODI) from energy industries to other sectors including agriculture.
China's ODI in non-financial sectors rose 28.9% year-on-year to US$52.5 billion in the first nine months, said the government.
Over 80% of China's ODI went to energy industries in 2009, but the proportion fell to 60% in the first half of this year.
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