Overseas M&As by Chinese companies surge 90%
0 
China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Overseas M&As by Chinese companies surge 90% — China Business News
China's mergers and acquisitions remained resilient last year with 294 deals completed, reaching a total value of US$33.14 billion and a year-on-year increase of 59.8 percent, according to a report released yesterday by service provider Zero2IPO.
Among deals last year, Chinese companies completed 38 overseas mergers and acquisitions, involving a total value of US$16.09 billion. According to the report, that is a yearly increase of more than 90 percent. Meanwhile, the number of foreign mergers and acquisitions of Chinese companies was 33, resulting in a total value of US$2.59 billion.
Baosteel seeks partnership with Shagang — China Business News
China's largest steel maker, Baoshan Iron and Steel Co. (Baosteel), is in talks with smaller rival Jiangsu Shagang Group for a possible partnership, China Business News reported Thursday.
Talks to explore possibilities actually began between senior management of the two steel makers late last year.
"Both parties are interested in the partnership, with options including strategic partnership, cross-ownership of shares and mergers and acquisitions," the Shagang official told China Business News.
Geely reports 59% rise in 2009 sales — China Business News
Geely Auto, China's largest privately-owned car maker, announced yesterday that it sold 325,400 cars last year, representing a 59 percent year-on-year increase.
The yearly figure is a big premium over its target of 250,000 units, and monthly sales for December set a record high of 43,446 units, a year-on-year increase of 108 percent.
