China's outward mergers and acquisitions in the 21st century: motivations, progress and the role of the Chinese government

Abstract

The increasing number of cases of developing country multinational enterprises (MNEs) buying assets from developed countries through merger and acquisition (M&A) calls for more systematic evidences on this area. As a typical and representative developing country, China has already drawn the world's attention with several high-profile cross-border M&As in recent years. By examining the recent evidences of Chinese outward M&A, this chapter reviews the main motivations of outward M&A among state-owned enterprises (SOEs) and non-SOEs, and presents an overall picture of China's outward M&A in the last decade. In doing so, this chapter intends to explore the crucial role played by the Chinese government in orchestrating its internationalization activities and the long-term implications on the competitiveness of Chinese firms in the global marketplace.

Citation

Tan, H. and Ai, Q. (2010), "China's outward mergers and acquisitions in the 21st century: motivations, progress and the role of the Chinese government", Cooper, C.L. and Finkelstein, S. (Ed.) Advances in Mergers and Acquisitions (Advances in Mergers and Acquisitions, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 25-50. https://doi.org/10.1108/S1479-361X(2010)0000009005