Taste for outbound M&As strong in first half, may double in second

SHANGHAI - Uncertainty in the financial market did not dampen merger-and-acquisition (M&A) sentiment in China, and Chinese enterprises reached deal value of $17 billion during the first half of 2011, a newly released report said on Monday.

According to the latest report of Deloitte Touche Tohmatsu Ltd, after registering deal value of $62 billion in outbound M&As in 2010, China continued its hunt for overseas bargains in the first half of this year. But as the second-largest economy in the world, the country could have been more ambitious.

"M&A activities will continue to grow because Chinese companies have become more adept and sophisticated at acquiring assets overseas, even in the face of market turbulence," the report said.