毕马威近日发布《全球并购趋势与中国并购市场展望》报告，该报告基于对全球20个国家和地区逾700名并购交易参与者的系统调研[1]。报告显示，全球并购交易正在恢复活力，但增长态势不均衡[1]。其中，亚太和美洲地区对市场前景预期相对乐观，而欧洲、中东和非洲地区的信心相对偏低[1]。此外，人工智能已逐步嵌入尽职调查、建模和整合规划等交易环节[1]。
中国并购市场展现出鲜明的结构性特征[1]。交易数量维持低位，但单笔平均交易规模呈现显著扩张[1]。战略政策引导作用日益显现，制造与科技业的并购占比显著提升，特别是在半导体和新能源等领域表现尤为突出[1]。毕马威中国交易咨询服务主管合伙人林琳表示，"本土市场的并购在新质生产力战略框架下，呈现战略性行业加速集聚整合的趋势"[1]。毕马威中国交易战略与并购融资主管合伙人王虹指出，"中国的并购市场正从规模导向迈向价值创造新阶段"[1]。
KPMG released the "Global M&A Trends and China M&A Market Outlook" report, revealing that global mergers and acquisitions are rebounding, though growth remains uneven across regions.[1] The research, which surveyed over 700 M&A participants across 20 countries and territories worldwide, indicates that Asia-Pacific and the Americas maintain relatively optimistic outlooks, while Europe, the Middle East, and Africa show more cautious sentiment.[1]
China's domestic M&A market displays distinct structural characteristics as it enters a new development phase.[1] Transaction volumes have remained subdued, yet the average deal size has expanded significantly.[1] Strategic policy has catalyzed a pronounced shift toward manufacturing and technology sectors, particularly in semiconductors and new energy industries.[1] State-owned enterprises are increasingly concentrating their integration and investment efforts on strategically important emerging industries.[1]
The transformation reflects a fundamental shift in market dynamics. Lin Lin, KPMG's China Deal Advisory Services Principal, stated that "the domestic M&A market is accelerating consolidation in strategic industries within the framework of new productive force strategy."[1] Wang Hong, KPMG's China Deal Strategy and M&A Financing Principal, added that "China's M&A market is transitioning from a scale-driven approach to a new stage focused on value creation."[1] Artificial intelligence has begun embedding itself into due diligence, modeling, and integration planning processes globally.[1]