M&A activity hits record high

Mergers and acquisitions hit a record high level in China last year, rising 37 percent year-on-year, a new report has revealed.

Global auditing firm PricewaterhouseCoopers said 9,420 deals were completed during 2015, worth $733.7 billion, which marked an 84 percent increase in value.

George Lu, PwC China's transaction services partner, said the firm also expects M&A activity this year again to be brisk, growing at similar double-digit pace.