Asia Dealmaking Hits USD1.3tr in 2025 as China Reawakens

Asia dealmaking 2025 rebounded strongly as transaction volumes across the region reached about USD1.3tr, up 21% year on year, according to Bloomberg-compiled data cited by bankers.

Advisers said renewed momentum in China and record activity in Japan are setting the stage for a robust start to 2026, led by consumer, healthcare, TMT and sponsor-driven transactions.

Citigroup’s Jan Metzger said the M&A pipeline is among the strongest he has seen.

In China, multinationals are increasingly turning to partnerships and private equity, including Starbucks’ agreement to sell control of its China business to Boyu Capital at a roughly USD4bn valuation and Restaurant Brands International’s Burger King China deal with CPE.