普华永道：2023年中国企业并购市场回顾与前瞻报告（英文版）

China M&A was down 28% to US$333bn by value and down 27% to 8,563 by volume in 2023. Although deal levels hit multi-year lows in full year 2023, the second half of the year did show some improvement over the first half, up 19% in value terms and 12% by volume. In addition, outbound investments by privately-owned enterprises bucked the trend rebounding by 13% in volume and 62% in value compared to the 2022 lows.For the domestic M&A market, although facing daunting challenges such as th