The Zhitong Finance App learned that LSEG released a report indicating that in the first three quarters of 2026, the total amount of mergers and acquisitions involving China reached US$274.1 billion, a year-on-year decrease of 10%; the transaction amount for the third quarter increased by 31.5% over the previous quarter. A total of 4,583 transactions were announced during the same period, up 18.2% year on year; the number of transactions in the third quarter decreased 15% from the previous quarter.
The total amount of overseas mergers and acquisitions of Chinese companies was US$17.9 billion, an increase of 2.2% over the previous year. Foreign companies' acquisitions of Chinese companies reached US$14 billion, an increase of 17.4% over the previous year. The amount of mergers and acquisitions in China was US$235.9 billion, down 10.6% year on year.
From an industry perspective, the high-tech industry ranked first among mergers and acquisitions involving China, with a market share of 24.8% and a transaction amount of 68.1 billion US dollars, an increase of 69.6% over the previous year. The financial industry ranked second, with a market share of 23.0% and a year-on-year decrease of 28.4% in transaction amount. The industrial sector ranked third, with a market share of 16.3% and a transaction value of US$44.7 billion, an increase of 36.4% over the previous year.
The Agricultural Bank of China announced plans to raise no more than 160 billion yuan, or about 23.8 billion US dollars, by issuing A-shares to the Ministry of Finance, China Tobacco Corporation and its related subsidiaries. The funds raised will be used to supplement the bank's core Tier 1 capital. The deal is China's largest merger and acquisition deal in the first three quarters of 2026.
In the “Announced M&A Transactions Involving China” financial advisors ranking for the first three quarters of 2026, Goldman Sachs ranked first with a relevant transaction amount of US$49.2 billion and 18.0% market share. Gialin Capital ranked second with a market share of 10.6%, and Morgan Stanley ranked third with a market share of 9.8%. Based on the number of transactions, CITIC Securities, China International Finance Corporation, and Tianji International ranked in the top three.
In the “Published M&A Transactions Involving China” legal adviser ranking for the first three quarters of 2026, Junhe Law Firm, Jiayuan Law Firm, and Fangda Law Firm ranked in the top three in terms of the amount of relevant transactions. Based on the number of transactions, Fangda Law Firm and AllBright Law Firm ranked first and second, while Junhe Law Firm and Zhonglun Law Firm tied for third place.
