PricewaterhouseCoopers released the “China M&A Market Mid-Year Review and Outlook 2026” report. The report shows that, driven by both favorable capital markets and favorable policies, China's M&A market picked up strongly in the first half of 2026: both the number of transactions and the scale of transactions jumped to a three-year high. The number of transactions in the entire market reached 7,316, an increase of nearly 30% over the previous year, and reached a record high; the transaction volume climbed to US$241.6 billion, surging 56% year on year, the best performance in the half year since 2023. According to the report, the strong recovery in the M&A market in the first half of the year was mainly led by financial investors, with year-on-year increases in the number and size of transactions close to 50% and 85%, respectively. At the same time, although the number of strategic investor transactions fell slightly by 7%, the transaction volume rose by nearly 40%. The number of very large transactions remained stable, reaching a total of 27, which is basically the same as the same period last year. Wu Ke, managing partner of the Chinese trading services market at PricewaterhouseCoopers, said that in the first half of the year, China's M&A market showed a strong recovery momentum. Focusing on the core orientation of “new quality productivity” and “strengthening the chain and repairing the chain” of the industrial chain, M&A capital is being gathered at an accelerated pace in high-tech and hard technology fields. Among them, the role of state-owned assets as a “ballast stone” in industrial integration is becoming more and more prominent, and this will become the main theme for future market structural growth.

PricewaterhouseCoopers released the “China M&A Market Mid-Year Review and Outlook 2026” report. The report shows that, driven by both favorable capital markets and favorable policies, China's M&A market picked up strongly in the first half of 2026: both the number of transactions and the scale of transactions jumped to a three-year high. The number of transactions in the entire market reached 7,316, an increase of nearly 30% over the previous year, and reached a record high; the transaction volume climbed to US$241.6 billion, surging 56% year on year, the best performance in the half year since 2023. According to the report, the strong recovery in the M&A market in the first half of the year was mainly led by financial investors, with year-on-year increases in the number and size of transactions close to 50% and 85%, respectively. At the same time, although the number of strategic investor transactions fell slightly by 7%, the transaction volume rose by nearly 40%. The number of very large transactions remained stable, reaching a total of 27, which is basically the same as the same period last year. Wu Ke, managing partner of the Chinese trading services market at PricewaterhouseCoopers, said that in the first half of the year, China's M&A market showed a strong recovery momentum. Focusing on the core orientation of “new quality productivity” and “strengthening the chain and repairing the chain” of the industrial chain, M&A capital is being gathered at an accelerated pace in high-tech and hard technology fields. Among them, the role of state-owned assets as a “ballast stone” in industrial integration is becoming more and more prominent, and this will become the main theme for future market structural growth.