Big Bank, Bigger China

It looks like China’s government controlled banks are funding the big overseas M&A push witnessed over the past several years as growth in the country wanes.

According to a reports from Reuters:

State-owned Bank of China said it has extended $56.3 billion worth of loans to fund 188 overseas acquisition deals by Chinese companies in the past six years, highlighting how local firms are seeking inroads into overseas markets as growth slows at home.

The latest example was China’s Anbang entering the bidding war Marriott (NASDAQ: MAR) for control of Starwood Hotels and Resorts Worldwide Inc (NYSE: HOT).

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