The research also shows that there was limited coverage of Chinese transactions in Chinese domestic press when compared with the volume of articles in international press. While it is natural for outbound M&A deals to receive more attention in the target country, this may change as the Chinese government puts further curbs on capital outflows. Also, although authorities have pledged continuing encouragement for companies to expand and operate internationally, added scrutiny into overseas investment projects from Beijing only highlights further that companies can no longer afford anything less than full transparency.

But inside every problem lies an opportunity. For Chinese companies and their advisers, their lack of comment in M&A press reports also means a unique chance to have real impact on shaping the narrative around outbound deals through proactive engagement with journalists. And as for local Chinese media outlets, it may prove a golden opportunity to leverage their home advantage to become a source for international news organizations hungry for reliable and in-depth information as more Chinese companies take the world stage.

Dr Nora Schlenzig is Head of Research for Asia-based strategic consultancy Ryan Communication.

The research assessed articles taken from 12 media outlets including Chinese media and English language press. Publications included Caixin, Caijin, 21st Century Business Herald, China Business News, People’s Daily, Financial Times, The Wall Street Journal, Bloomberg News, Thomson Reuters, The New York Times and USA Today. China Daily was also included in the research.

Deals include Lenovo’s acquisition of Motorola Mobility in 2014 and the Chinese bid for Germany’s Aixtron in October 2016. The total value of deals considered in the study was $5,440 million. Technology was chosen as the sector of focus for the study as it has evolved as one of the top targeted sectors for Chinese buyers in 2016. The study focused on deals with acquisition targets located in OECD countries and where a majority stake was agreed for purchase.