Asia Pacific dealmaking remains resilient despite energy supply vulnerabilities

In Mainland China, total deal value fell by around 40% to USD133bn in the first half of 2026 compared to the previous six-month period, with deal volumes also down by 8% (2,985 transactions). Activity in Hong Kong showed a similar decline, with USD10.7bn of deals in the period to June 11, almost 70% lower than in H2 2025.

Inbound investment into Mainland China remains on a similarly downward trajectory, with total inbound M&A by value for the period standing at USD11.4bn, 31% lower than in H2 2025. Several forces lie behind this trend,…