China changes tack in asset push
Overseas shopping spree now focuses on consumer and manufacturing firms that offer branding and technological know-how

China's focus in overseas acquisitions has shifted to consumer and manufacturing companies that can help boost global brand positioning and technological know-how.

David Wu, the head of corporate finance in China for Netherlands-based ING Bank, said Chinese bidders had been actively looking for European companies that had unique technology, premium brands, as well as a meaningful client base and distribution channels.
Chinese buyers are looking to supply inexpensive raw materials or semi-finished goods to European companies, in return for technology transfers.
Wu, who is based in Hong Kong, said the "majority of the Chinese merger and acquisition deals involve consumer, manufacturing and industrial firms".
Deals in the materials, energy and utilities sectors remained dominant in "big-ticket" transactions.
