Greater China had 1104 M&A deals worth US$95bn in YTD 2023. Comparing the numbers with YTD 2022, YTD 2023 domestic and inbound volume declined by 152 deals, while outbound volume fell short by only 3 deals.

In terms of aggregate transaction value, YTD 2023 saw an overall 17.1% decrease from YTD 2022 – domestic and inbound decreased by 33.1%, while outbound had a large increase at 140.7%. In YTD 2023, excluding the other/uncategorized sector, utilities, followed closely by energy, showed the most growth within the domestic & inbound sector. On the other hand, communication services took the lead with a massive 7523% growth for the outbound sector.