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Chinese Enterprises Lack Confidence In Overseas Investment, And Enterprises Turn Their Attention Or Turn To Domestic Market.

2013/7/16 16:17:00 31

China'S M & A Market Garment Enterprises Mergers And Acquisitions

< < a href= > http://sjfzxm.com/news/index_c.asp > > the second quarter of 2013, China's M & A Market Research Report < /a > (hereinafter referred to as the "report") shows that in the first half of 2013, the amount of overseas mergers and acquisitions of Chinese enterprises decreased by 22% compared with the same period last year, and for the first time in 4 years, it turned to negative growth. Meanwhile, in the first half of this year, there were only 34 overseas mergers and acquisitions by Chinese enterprises, a decrease of more than 50% from 73 in the same period last year. 
 M & a "soft landing" /p >
 in fact, from the amount of overseas mergers and acquisitions of Chinese enterprises, the momentum of overseas M & A is still at a high level, but it has dropped somewhat compared with the same period last year. It can be said that this is a soft landing of overseas mergers and acquisitions. 
In the first half of 2013, Chinese enterprises completed 34 overseas M & A spanactions, with a total spanaction volume of US $17 billion 890 million, though less than half of the same period in 2012. However, the total volume of spanactions in the half year's data is still at a high level of second in history (just below US $22 billion 800 million in the first half of 2012 and US $15 billion 600 million in the first half of 2011) in the first half of 2012. From the second quarter data, the second quarter of 2013, China's enterprises overseas acquisitions completed 16 spanactions, only two lower than the first quarter. 
 lack of confidence in overseas investment 
Since P, the overseas mergers and acquisitions of Chinese enterprises have been in the hot 4 years since 2009. Among them, the internationalization demand of enterprises, the psychology of collecting assets from overseas assets, the strategic mergers and acquisitions of resources and energy and the abundant liquidity are the four major factors that push Chinese enterprises to undertake overseas mergers and acquisitions in recent years. 
 the current situation is: domestic liquidity has tightened. The weakening of commodity prices has reduced the enthusiasm of resource based mergers and acquisitions. The rise of asset prices in the US and Europe has led to the gradual disappearance of the bottom up opportunities. 
Chen Yuyu, director of the Economic Policy Research Institute of Peking University, believes that "the tightening of domestic liquidity" is the most important reason. P In an interview with an international business reporter, Chen Yuyu said: "since the two quarter of this year, the central bank has begun to restrict the flow of capital of commercial banks. On June 3rd ~20, the overnight interest rate of interbank lending in Shanghai increased by 8.8%, to a record high of 13.4%. The market thinks that liquidity problems exist in commercial banks, which further leads to insufficient confidence in overseas investment. 
 Chen Yuyu suggested: "in order to encourage Chinese enterprises to continue to expand the scale of" going out ", we should appropriately relax the supervision of enterprises, especially private enterprises in the future, respect the laws of market economy, and let the funds flow freely to overseas high return industries. 
 enterprise attention or turning to domestic .
 Qing Branch Research Center believes that the focus of China's "a href=" http://sjfzxm.com/news/index_s.asp "M & amp; acquisition market < /a" will be spanferred to domestic M & A from overseas mergers and acquisitions in the previous two years in 2013. 
 Qing Ke said in the report: "although the recovery of China's" a href= "http://sjfzxm.com/news/index_cj.as" economy > /a "is still weak, and the stability of the financial system has also been questioned, compared with the downward trend of the economy in 2012, the business environment or investor confidence have improved. Therefore, there is still room for domestic mergers and acquisitions. 
 the report shows that in the first half of 2013, the activity of domestic mergers and acquisitions of Chinese enterprises was basically flat compared with the same period in 2012, and the total amount of mergers and acquisitions increased significantly. In 6 months, 359 domestic mergers were completed, representing a slight increase of 1.4% over 354 in the same period in 2012. Although the figure fell by 25.7%, the trading volume of $12 billion 740 million rose by 73.2% compared to the 347 cases disclosed, and the ratio rose by 28.4%. 
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