4月21日，中国（广东）自由贸易试验区（下称"广东自贸试验区"）迎来挂牌10周年。10年来，广东自 贸试验区进出口总额由2015年约1100亿元增长到2024年约7400亿元，年均增速超过24%；固定资产投资 累计超1.3万亿元。 据省商务厅方面消息，10年来，广东自贸试验区累计设立港澳资企业2.9万家，实际使用港澳资539亿美 元，均占全省20%以上，成为全国港澳投资的首选地。 累计形成制度创新成果772项 广东自贸试验区成立10年来，推出了一大批具有标志性引领性的成果：累计形成制度创新成果772项， 全省复制推广237项，在全国集中推广43项，占全国四分之一；发布制度创新案例356个，列入全国最佳 实践案例8个，占全国近十分之一。 推动高水平制度型开放成效明显。获批开展对接国际高标准推进制度型开放试点，境外专业人员便利执 业等33项试点任务全面落地。 累计设立港澳资企业2.9万家 广东自贸试验区深入推进与港澳规则衔接、机制对接，实现货物、服务、资金、人员等要素自由便利流 动。10年来，累计设立港澳资企业2.9万家，实际使用港澳资539亿美元，均占全省20%以上，成为全国 港澳投资的首选地。 广东自贸试验区 ...

Core Insights - In Q1 2025, the total M&A transaction value involving mainland China reached $124.9 billion, marking a 111.6% increase year-over-year and a 15.9% increase quarter-over-quarter [1] - The number of announced transactions was 935, which represents a decline of 11.3% from the previous quarter and a 43.7% decrease from the same period last year [1][3] Summary by Category M&A Activity - Chinese companies' outbound acquisition value reached $4 billion, a 62% increase compared to the same period last year [3] - Foreign companies' acquisitions of mainland Chinese companies totaled $1.9 billion, down 32.8% year-over-year [3] - Domestic M&A activity in mainland China was robust, totaling $116.8 billion, up 131.3% year-over-year [3] Industry Performance - The financial sector dominated M&A activities involving mainland China, accounting for 57.97% of the market share with a total transaction value of $72.4 billion, a staggering 977.3% increase year-over-year [5] - The high-tech sector followed with an 11.83% market share, growing 43.2% year-over-year [5] - The energy and power sector ranked third, with a market share of 9.56% and a transaction value of $11.9 billion, reflecting a 319.3% increase year-over-year [5] Leading Financial Advisors - Goldman Sachs led the M&A transaction rankings for Q1 2025 with a market share of 14.78% and a total transaction value of $18.5 billion [8] - JPMorgan Chase ranked second with a market share of 14.22%, while Cailin Capital secured third place with a 13.33% market share [8] Legal Advisors - Sullivan & Cromwell, White & Case LLP, and JY Law Firm were the top three legal advisors in Q1 2025 for M&A transactions involving mainland China [10] - Sullivan & Cromwell had a transaction value of $95.5 million, representing a market share of 7.6% [11]