The Zhitong Finance App learned that on July 10, Bill Feng, senior investment bank data manager at LSEG, released China's mergers and acquisitions report and rankings for the first half of 2026. In the first half of 2026, total mergers and acquisitions involving mainland China reached US$153.5 billion, a year-on-year decrease of 33.6% and an increase of 1.2% over the previous quarter. A total of 3,244 transactions were announced during the same period, up 39.6% year over year, but down 12.4% from the previous quarter.
Among them, the total overseas M&A transactions of mainland Chinese enterprises were US$15.7 billion, up 45.0% year on year; the total amount of acquisitions of mainland Chinese companies was US$11.4 billion, up 33.4% year on year; total domestic merger and acquisition transactions in mainland China were US$122.7 billion, down 39.2% year on year.
From an industry perspective, the high-tech industry continues to be the most active sector in the M&A market in mainland China, with a total transaction volume of 44.1 billion US dollars, accounting for 28.71% of the total transaction volume, an increase of 60.9% over the previous year. The industrial sector ranked second, accounting for 20.87% of transaction volume, an increase of 45.3% over the previous year. The raw materials industry ranked third, with a total transaction volume of US$26.9 billion, accounting for 17.51% of the market share, a year-on-year decrease of 23.5%. The largest merger and acquisition deal in mainland China in the first half of 2026 was Savvy Games Group's acquisition of all shares of Shanghai Mutong Technology Co., Ltd. in cash for US$6 billion.
In terms of financial advisor rankings, CITIC Securities ranked first in the first half of 2026 with a relevant transaction amount of US$10.1 billion and a market share of 6.61%; Goldman Sachs ranked second with a market share of 5.24%; and China International Finance Corporation ranked third with a market share of 5.04%. Based on the number of transactions, CITIC Securities, China International Finance Corporation Limited, and Baker Tilly International (Baker Tilly International) ranked in the top three.
In terms of legal adviser rankings, based on published transaction amounts, Jiayuan Law Firm, Fangda Law Firm, and Global Law Firm ranked in the top three; in terms of number of transactions, Fangda Law Firm, AllBright Law Firm and Zhong Lun Law Firm ranked in the top three.
