Regulation over domestic M&A has generally relaxed, but investors need to heed challenges such as national security and antitrust reviews and post-merger integration, writes Leo Long

The past year has seen a wave of M&A activity in China. In one of the year’s most-followed stories, CSR absorbed CNR (both formerly China South Locomotive and Rolling Stock Industry and China North Locomotive and Rolling Stock Industry, respectively) and became CRRC (China Railway Rolling Stock Corp), in one of the largest and most complex transactions this year. The post-merger CRRC resumed trading on 8 June and closed with a market value of more the RMB 880 billion (US$126 billion) – the highest for a listed locomotive manufacturer, with a value close to that of Boeing and General Motors.

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