Chinese money. Photo: iStock

The mergers & acquisitions conducted by Chinese enterprises in One Belt One Road countries has seen explosive increases in both the number and the amount of deals, China News Service reported.

According to the latest report released by PwC, the number of Chinese enterprises’ overseas M&A has increased to 135 in 2017, compared to 22 in 2016.

Meanwhile, the total amount of deals has jumped more than 10 times to US$21.4 billion in 2017, from US$2 billion in 2016.

The report also said high-tech and high-standard industrial products remain to be the most active areas for Chinese enterprises to invest abroad, followed by consumer goods.

This phenomenon is in line with China’s industrial upgrading and its macro strategy to acquire overseas advanced technologies, brands and consumer goods.