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在线翻译:
szdaily -> Business
Appetite for deals seen to swell
    2017-November-14  08:53    Shenzhen Daily

THE world’s second-largest economy is expected to see an acceleration of deals as investor confidence grows and the country opens up wider to reforms.

Deal-making activity will pick up especially in the tourism and airline sectors, Carl Chien, vice chairman of JP Morgan Chase & Co.’s Asian-Pacific division, said on the sidelines of the APEC summit in Vietnam.

His views came after China said Friday that it will raise foreign ownership limits on financial firms, giving global financial companies wider access to the market.

Chinese companies have announced a total of US$149 billion in deals involving foreign targets so far in 2017, a 39 -percent decline from US$246 billion last year.

One of the largest is a US$12 billion buyout of Singapore warehouse operator Global Logistic Properties Ltd. by a consortium that includes Bank of China Group Investment and a unit of China Vanke Co.

Chien believes industries related to China’s push for infrastructure investment, dubbed the Belt and Road Initiative, will be key drivers for deals. And activity should also heat up for hotels, travel agencies and online booking systems as the nation’s middle class expands.

Chinese firms sealed several notable tourism-related deals last year, including Ctrip.com International Ltd.’s 1.4 billion pounds (US$1.8 billion) acquisition of Skyscanner Holdings Ltd. and China Life Insurance Co.’s US$2 billion purchase of a stake in Starwood Capital Group’s U.S. hotels portfolio.

“As China gets wealthier, people demand quality of life. They want to see the world,” said Chien. “The vast majority of the people who do not speak the language — you need to have a full chain to service the needs of these people.”(SD-Agencies)

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