Chinese M&A deals in U.S. reach 18-year low in first half of 2024

First six months of deals by China Inc. worth $94m, according to Dealogic

Chinese companies looking for acquisitions in the U.S. face greater scrutiny from Washington and stronger capital controls from Beijing. © Reuters

PAK YIU and ECHO WONG, Nikkei staff writers

July 12, 2024 21:37 JST

NEW YORK/HONG KONG -- Chinese deal activity in the U.S. for the first half of the year sank to the lowest since 2006 as fraught relations between the two countries fuel tighter scrutiny of Chinese companies and further decouple the two economies.

Chinese businesses made seven such deals, worth a combined $94 million, according to available data from financial analytics firm Dealogic. The Nasdaq-listed Coherus BioSciences was acquired by Nanjing King-Friend Biochemical Pharmaceutical and Chicago-based Meitheal Pharmaceuticals for $40 million in June.