| A mini Manhattan in the heart of Beijing: US and other foreign banks hope the |
MERGERS AND ACQUISITIONS bankers, desperate for deals, see a bright beacon of hope in China. As the country attempts to transform its bloated, largely state-owned economy into a globally competitive powerhouse its thirst for foreign capital, technology and management skills is growing ever greater. And with multinational corporations looking for ways to break into a market that promises breathtaking growth rates they are ever more willing to provide all three.
And it's not just international investors snatching up Chinese entities that will keep M&A bankers occupied. Deal hunters are also greedily eyeing the new breed of recently listed cash-rich and confident Chinese companies looking abroad for possible acquisition targets. These corporates understand that if they are to become world competitors expansion outside the People's Republic is obligatory.
Confidence in pursuing such aspirations is growing among a select group of Chinese companies. And international players are becoming more comfortable working with Chinese partners to tap the country's opportunities.