China Watch Blog has learnt that the number of merger and acquisition deals in China grew for a second consecutive month in August by 6.4 percent from July to reach 282.
According to a China Venture report, the total investment of the deals dropped 28.83 percent from a month ago to 73.3 billion yuan (US$11.47 billion).
Of the 282 deals, 207 have been completed – the highest number so far this year. The firm also said 176 of these deals saw a combined investment of 55.8 billion yuan, up 10.6 percent from July, the Shanghai Daily reported.
Among the 207 cases, 189 deals took place between Chinese firms, 12 were sealed outside China by domestic firms buying overseas assets and six were secured by foreign investors in China, the report added.
The energy and mining sector saw the most M&As with 38, followed by 23 cases in IT and 22 among manufacturers.