Greater China M&A By the Numbers: Q4 2025

In 2025, Greater China recorded 1941 M&A deals with a total value of US$203.5bn. This marked a 21.7% decline in aggregate transaction value compared to the previous year. Notably, outbound transaction value plummeted by 37.4%, while domestic and inbound transaction value decreased by 18.4%.

The information technology sector experienced the most significant growth in deal value, soaring by 99% in the domestic and inbound markets. It was followed by consumer staples at 54% and energy at 42%. Conversely, the materials sector faced the steepest decline, dropping by 65%.

In the outbound market, only the healthcare sector exhibited a substantial increase in deal value, rising by 79%. All other sectors experienced negative growth, with communication services suffering the largest decline at -100%.