UBS believes the entire M&A market in China has become very important since the pressure on the overall capital market in 2023.

UBS expected that M&A activities will gradually become more active this year with changing behaviors, pointing out that investors are now more inclined to buy controlling stakes, while some companies are interested in acquisitions and consolidation of peers, enhancing efficiency by shifting from diversified capital to the development of core industries, eliminating part of the non-core businesses.