It's China for new deals

Deal makers and financial sponsor bankers have taken to the skies again after a travel clampdown late last year when corporate purses were tightened in the global financial crisis.

And China is the most popular destination - for deals and money.

The world's top private equity firms, including The Carlyle Group, Bain Capital and TPG, have raced to sign deals with Chinese companies across the business spectrum, from telecom service providers to baby formula makers.