2026 Q1 China Mergers and Acquisitions Market Transaction Ranking

According to Wind data statistics, in the first quarter of 2026, a total of 1,734 mergers and acquisitions (including cross-border mergers and acquisitions by Chinese companies) were disclosed in the Chinese M&A market, representing a 5.86% year-on-year increase; the transaction volume was approximately 454.1 billion yuan, a year-on-year increase of approximately 6.53%. There were a total of 3 mergers and acquisitions with transaction sizes exceeding 10 billion yuan, with the sale of MuTong Technology by ByteDance for 41.339 billion yuan ranking first in transaction size; the change in control of Chifeng Jilong Gold Mining for 18.258 billion yuan ranking second in transaction size; and the acquisition of Zhengzhou Heying Holding for 9.412 billion yuan ranking third in transaction size. In terms of the scale of mergers and acquisitions events involving financial advisors, according to the first announcement date of the M&A event, CITIC SEC ranked first with a transaction volume of 31.098 billion yuan, Shenwan Hongyuan Group ranked second with 13.158 billion yuan, and Guoyuan ranked third with 4.998 billion yuan. According to the completion date of the M&A event, CITIC SEC ranked first with a transaction volume of 242.122 billion yuan, CICC ranked second with 126.418 billion yuan, and Huatai United ranked third with 83.207 billion yuan. (Note: The scope of this ranking includes domestic mergers and acquisitions, outbound mergers and acquisitions, and inbound mergers and acquisitions by Chinese companies, excluding failed events.) In the overview of the M&A market: 1.1 Size and Trends of the Chinese M&A Market in the Past Three Years In the first quarter of 2026, the Chinese M&A market disclosed a total of 1,734 M&A events, a year-on-year increase of 5.86%; with a transaction volume of approximately 454.1 billion yuan, a year-on-year increase of 6.53%. (Note: This chapter events are based on the first announcement date and exclude failed events.) 1.2 Situation of the Chinese M&A Market in the First Quarter of 2026 1.2.1 Regional Distribution and Ranking In terms of the distribution of participating parties by region, Shanghai ranked first in the active regions of the Chinese M&A market in the first quarter of 2026, with a transaction volume of 2.198 trillion yuan, a year-on-year increase of 66.70%; Beijing ranked second with a transaction volume of 1.212 trillion yuan, a year-on-year increase of 43.39%; and Guangdong ranked third with a transaction volume of 772 billion yuan, a year-on-year increase of 15.16%. ...