Global EditionASIA 中文双语Français
China Daily / 2021-01 / 14 / Page013

Overseas M&A deals 'will recover'

By ZHOU LANXU | China Daily | Updated: 2021-01-14 00:00

Overseas mergers and acquisitions by Chinese enterprises will recover this year on the back of a stronger yuan, with the new Sino-EU investment pact lending further stimulus to the deals, a leading law firm said on Wednesday.

"The appreciation of the Chinese currency may make overseas assets cheaper for Chinese enterprises and encourage more outbound acquisitions," said Alan Wang, partner at Freshfields Bruckhaus Deringer LLP, a London-headquartered multinational law firm, which is a leading legal adviser for global M&As.

Since the beginning of the second half of 2020, the exchange rate of the onshore yuan has appreciated from about 7.1 against the greenback to about 6.46 as of Wednesday. Some experts expect the yuan to gain further this year.

Report cites rights progress in Tibet

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349