The value of China’s M&A activity in 2018 remained flat at US$678bn, with record PE activity offsetting a 23% decline in outbound M&A. Deal values were below the 2016 peak, although volumes have remained relatively steady over the last three years. China’s outbound M&A fell for the third straight year from 2016 records, dropping to less than half of those highs over two years, according to PwC’s 2018 Review and 2019 outlook.
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