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An abundance of capital and cheap debt, pursuit of growth outside a slowing economy and efforts to meet the standards of a more affluent and brand-conscious middle class are still giving momentum to outbound M&A, a report of global law firm Clifford Chance, said.
Among them, the China Automotive Battery Research Institute signed a C.35 million deal with the University of Western Ontario. The two sides will set up a laboratory to develop new-generation batteries.
An employee charges electric-powered coaches at a transportation hub in Baodi district of Tianjin. [Photo/Xinhua]
An industry-wide restructuring and upgrade is taking place in China, and it is believed more mergers and acquisitions will sweep the sector in three to five years. By 2025, the country's top 10 steel enterprises will raise their output to between 60 percent and 70 percent of the nation's total, as the target set by the State Council stated.
An exterior view of the world famous Waldorf Astoria hotel in midtown Manhattan in New York, Feb 28, 2017. [Photo/Agencies]
