Record year for Chinese firms seeking overseas mergers

This year is a remarkable one for Chinese companies when it comes to overseas mergers and acquisitions.

According to Thomson Reuters/China Venture, outbound M&A activities in the first three quarters reached a record high of 671 transactions in volume, or more than $160 billion in value disclosed, which exceeded the aggregate of 2014 and 2015.

Thanks to the favorable government policies, sufficient capital and active corporates, the internet-technology sector has ranked among the top three of the wish list for various Chinese investors that accounted for approximately 16 percent of the outbound investment volume in the third quarter of 2016, doubling that from 2015's third quarter.