Survey reveals rise in overseas M&A plans

Overseas merger and acquisition plans by Chinese businesses have reached a record high, fueled by potential opportunities brought about by the gloomy global economy, according to a survey from international accounting firm Grant Thornton.

Nearly half of Chinese businesses polled (47 percent) for the Grant Thornton International Business Report 2013 said they were planning international moves, the highest level since the company first asked the question of Chinese companies in 2008.

"China businesses are now better prepared for cross-border M&As after years of high growth, and more said they will seek growth from these kinds of transactions when the time is right," said Xu Hua, CEO of Grant Thornton