CRI听力:Chinese companies surpass US as largest buyer of cross-border M&As

China has overtaken the United States for the first time as the largest buyer of cross-border Mergers and Acquisitions, or M&As, worldwide.

Official data shows the volume of China's cross-border M&As totaled 173.9 billion U.S. dollars in the first ten months of the year.

That figure represents a growth of 68 percent from the previous year.

Nearly 75 percent of that amount went to Hong Kong, ASEAN countries, the European Union, Australia and the United States.

China's overseas investment started with raw materials, moved on to infrastructure and manufacturing, and is now starting to focus on big-name consumer brands and high-tech companies.

China's non-financial direct investment into the US grew 173.9 percent year-on-year in the January to October period.

This was much higher than the 53.3 percent growth in China's overall outbound direct investment (ODI).

For more on this, we are joined on the line by, Mike Bastin, Director of the China Business Center at Southampton Solent University in London.