We can certainly expect Lenovo to continue its growth via acquisition strategy in 2014, which began in 2005 with the takeover of IBM Corp's PC business and brand name.

Lenovo's management has repeatedly stated the company's determination to become China's first truly global brand with a strong presence in the US, European and Asian markets.

Ailing HTC may prove a takeover target too ripe to pass up.

Other likely contenders for mega-merger deals in 2014 include China's current crop of companies with an international footprint such as Huawei Technologies Co Ltd, ZTE Corp, Haier Group and Li-Ning Co Ltd.

To date, Haier and Huawei have pursued global expansion via organic growth and have not succeeded at or even appeared to have considered mega-takeovers. Huawei, with 70 percent of its sales outside mainland China, is unlikely to change course. The same is true of Haier.

Li-Ning, on the other hand, has not enjoyed the international success achieved by other leading Chinese corporate brands. Its global expansion desires remain undiminished. Growth via M&A may feature more prominently in its global strategy plans for 2014. Rumors have abounded for a while about a possible takeover of Peak Sports, but there's been far less over acquisition of any major global rival.

Nike Inc and Adidas AG remain too strong, but major second-tier competitors, such as the US-based New Balance Athletic Shoe Inc, are well within Li-Ning's takeover radar. New Balance has a history in mainland China that should make any post-acquisition integration of the company and its brand name relatively straightforward. Do not be surprised if, around spring 2014, Li-Ning announces the successful completion of just such a deal.

While any significant global economic recovery remains at best patchy, Chinese companies will seize any opportunity to expand internationally via cross-border M&A. Sluggish economic growth forecasts for 2014, therefore, should lead to a bumper M&A year.

Chinese companies' global expansion is inevitable, and cross-border M&A of famous foreign companies and their brands offers by far the most attractive route. Expect more M&A excitement during 2014.

The author is a visiting professor at the University of International Business and Economics in Beijing and a senior lecturer on marketing at Southampton Solent University's School of Business. The views do not necessarily reflect those of China Daily.