Guangming Daily reported on the 2011 Investigation Report of the International Business Survey issued by Grant Thornton China on February 16, 2011. According to the survey, following the global economic recovery, Chinese enterprises’ intentions to expand have markedly increased. It showed that 45 percent expect to be involved in M&A activities in the next three years. That is an increase of 19 percent over last year’s 26 percent. It is also higher than the global average of 34 percent. Among the enterprises surveyed, 26 percent anticipate acquiring companies overseas in the next three years, the highest level since 2008. Overseas acquisitions have increased rapidly in recent years. Since the start of February of this year, Chinese companies have spent over US$10 billion on acquisitions. At the moment, large state-owned enterprises are responsible for most overseas acquisitions. Due to opposition from hostile overseas forces, many face obstacles and failure. Thus many private enterprises and other economic entities have been driven to join the acquisition activities.
Source: Guangming Daily, February, 17, 2011