The fundamental trends of 2013 were Chinese companies’ need to acquire resources, technology and market share for their own growth, and those trends will remain strong in 2014. In the meantime, competitive financings by Chinese banks helped push the outbound expansion of Chinese companies. These financings have made it possible for smaller Chinese companies to acquire or buy into much larger foreign companies.

China’s political transition was the year’s key trend. During this transition and the arrival of new political leaders, many companies postponed overseas investments and transactions until the political environment becomes more certain.