Varying share of M&A: Chi nese foreign direct investment
by type of investment
Only 25. 6 percent of China’ s FDI in 2015 was in the form
of mergers and acquisitions. By contrast, more than half of
the FDI in 2004 and 2008 was M&Aactivity (MOFCOMet al. 2016: 10).
In 2004, this was most likely affected by a few
larger acquisitions, for example, in the German machine
tool sector, and the still lowoverall FDI volume (Jungbluth
2013: 13). In 2008, bargains in the aftermath of the financial
crisis proved to be irresistible to Chinese buyers (Schüler-
Zhou et al. 2010). Chinese FDI has since increased rapidly
while the proportion of investment volume due to M&A
transactions has fluctuated wildly, and since 2010 has even
declined. Instead, greenfield proj ects continue to dominate
Chinese global FDI (MOFCOMet al. 2016: 10).