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Economy

Chinese deal-making shifts to Europe amid U.S. tensions

Strict COVID-19 rules and regulatory hurdles weighed on outbound investment

HONG KONG -- China's mergers and acquisitions activity shifted to Europe from the U.S. last year, a new survey said Wednesday, on the back of rising tensions between the world's two biggest economies.

Deals in Europe rose 5% to $8.4 billion last year while plunging 37% to $4.7 billion in North America compared with 2020, said the joint survey by Baker McKenzie and Rhodium Group.

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