安永发布《2025年上半年中国海外投资概览》

Core Insights - In the first half of 2025, China's foreign direct investment (FDI) showed a downward adjustment trend, while investments in countries participating in the "Belt and Road" initiative experienced growth [2][4] - Chinese companies' overseas mergers and acquisitions (M&A) continued to recover, with a total announced amount of $19.6 billion, representing a year-on-year increase of 79% [4][8] Investment Trends - Total FDI from all industries reached $80 billion, a decrease of 6.2% year-on-year [4][6] - Non-financial FDI amounted to $72.2 billion, down 0.5% year-on-year, while non-financial direct investment in "Belt and Road" countries reached $18.9 billion, up 20.7% [6][10] - The number of announced overseas M&A transactions was 200, a decrease of 7% year-on-year, but the number of large transactions (over $500 million) increased from 6 to 14 [4][8] Sector Analysis - The TMT (Technology, Media, and Telecommunications) sector remained the most popular for M&A, with several industries experiencing triple-digit year-on-year growth in M&A amounts [10][16] - The mining and metals, advanced manufacturing, and transportation sectors also saw significant M&A activity, with a combined amount accounting for 72% of total M&A value [15][16] Regional Insights - Asia dominated the M&A landscape, accounting for over half of the total M&A amount, with a year-on-year increase of 162% to $10.5 billion [11][16] - Latin America saw a dramatic increase in M&A activity, with amounts growing sixfold to $2.3 billion, marking the highest growth rate [11][16] - The "Belt and Road" countries accounted for 87% of new contracts signed by Chinese companies in overseas engineering projects, totaling $129.9 billion, a 12.4% increase year-on-year [14][16]