China's mergers and acquisitions (M and A) market has witnessed robust performance in 2025, with more than 600 corporate asset restructuring cases disclosed by listed companies so far this year -- a 40 percent increase compared to the same period last year, according to the China Securities Regulatory Commission (CSRC).
Of the 600-plus cases, over 90 related to significant asset restructuring, which was 3.3 times the number from the same period last year.
The scale of M and A deals have also reached record highs. Since the start of 2025, completed significant asset restructuring transactions have exceeded 200 billion yuan (approximately 28 billion in U.S. dollars), marking an 11.6-fold increase from the same period of 2024.
The momentum follows the release of the six guidelines on deepening the reform of the M and A market for listed companies nearly eight months ago. The policy has sparked renewed vitality across the A-share market, with over 1,400 M and A cases announced on the Shanghai and Shenzhen stock exchanges since its rollout. Notably, more than 160 of these have involved significant asset restructuring.
A key highlight of the M and A wave is in the "hard tech" sector. Nearly 20 traditional manufacturing firms have launched cross-industry acquisitions this year, with around 70 percent targeting such emerging industries as semiconductors, new generation information technology, advanced materials, and new energy.
The STAR Market, China's Nasdaq-style board for high-tech and innovative enterprises, has also seen a spike in significant asset restructuring activity, with the number of newly disclosed deals in 2025 already surpassing the total reported in 2024.
"Corporate M and A and restructuring are channeling more resources toward industrial integration, and transformation and upgrading. This trend supports listed companies in expanding into emerging sectors, laying the groundwork for their high-quality development," said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Company Limited.
Over 600 asset restructurings disclosed by Chinese listed companies in 2025
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
