In 2020, China's overseas M&A transaction volume declined for the fifth consecutive year, expected to decrease by over 80% compared to its peak in 2016. Under the "new normal" of the ongoing COVID-19 pandemic, escalating trade tensions, and heightened geopolitical uncertainty, Chinese companies are adopting a "systematic M&A strategy with Chinese characteristics" - namely, achieving more than 10% external growth through at least two to three small- to medium-sized acquisitions each year. This approach enables them to better seize the next wave of overseas investment opportunities.
