HONG KONG — China’s M&A deals could struggle in 2023 after volume plunged by 20% last year to $486 billion, the lowest level since 2014, in a downturn stoked by caution over investing in the country.
The grim assessment was laid out in a report by PwC on deal activity, which warned that the first half of this year would likely see another drop in the number of transactions, reflecting weakness in the last six months of 2022.
