M&A activity continues to grow in the cryptoverse. Photo: iStock / Getty

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The China Securities Regulatory Commission approved mergers and acquisition requests from a total of 116 A share companies this year, the China Securities Journal reported, citing data released by Wind Info.

Statistics show that the number of mergers and acquisitions within the industry are far more than cross-industry mergers and acquisitions. Among them, around 80% of the projects involves horizontal or vertical industry consolidation.

Internet, big data, mobile payment and other emerging industries with good performance, stable profitability and large market share were the most sought after, the report said.

The 116 listed companies include players from chemical (15), computer engineering (11) and machinery equipment (10) sectors. More than 90% of these firms had their mergers and acquisitions within their own sectors. 

Huatai United Securities Managing Director, Lao Zhiming, said the mergers and acquisitions market is back to rationality. Listed companies are now more concerned about static price and dynamic growth, he said.

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