Pick-up seen in Q2 domestic M&A deals activity

SHANGHAI: China's mergers and acquisitions (M&A) market saw a modest pick-up in domestic deal activity in the second quarter after a steep decline in the first three months of 2009, professional services firm PricewaterhouseCoopers (PwC) said.

A PwC report released yesterday showed that domestic transaction volumes in the second quarter increased by 32 percent, to 811 deals worth $28.3 billion, from 616 deals worth $17.6 billion done during the first quarter.

Domestic transactions, whose volumes saw an over 35-percent increase from the first quarter to the second, contributed to an all-time high of 87 percent, or 708 deals, of the total volumes during the second quarter.