Mergers and acquisitions on Belt and Road exceed last year: Report

Chinese enterprises' total mergers and acquisition volume this year in the 68 countries related to the Belt and Road Initiative hit US$33 billion by mid-August, surpassing last year's US$31 billion, despite the Chinese government's strict control on overseas purchase for fear of capital outflows, Reuters reported.

Although the M&A activity on the Belt and Road routes saw a fast rise, the global figure shrank 42 percent year-on-year.

The fact that Chinese enterprises spent a record US$220 billion purchasing overseas properties last year, from film studio to football clubs, prompted the government to strengthen its inspection of overseas buying.

However, this has not affected Chinese enterprises' passion for purchasing companies and properties in the countries along the Belt and Road routes. The investment is seen as strategic investment for the Chinese economy.