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Survey: Private firms fight shy of floats, buys

By Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-16 16:02

Privately-held businesses on the mainland showed the greatest change in attitude towards acquisitions and public listings this year, a survey by the international accountancy firm Grant Thornton International Business showed on Monday.

Related readings:  Mainland firms shy away from HK floats  China's IPO capital drops about 80%  Private firms need smooth access to public projects  Premier calls for support to private companies

Compared to last year, China had the second biggest fall (of 26 percent) among global businesses intending to make acquisitions and the biggest fall (of 40 percent) among businesses planning for a public listing in the next three years, the survey of 36 economies revealed.

Mainland businesses were more enthusiastic about deal-making last year, but have revised their plans in the changed economic climate. Only 41 percent of businesses were now looking for targets as against 67 percent previously.

But, there were some important regional differences. Businesses in Beijing are much more acquisitive (53 percent) than those in Shanghai (36 percent) and Guangzhou (35 percent), the survey noted.