Chinese companies have revealed their international ambitions as they have merged and bought out foreign partners last year, a trend that peaked with the merger between Lenovo Group and IBM.

Chinese companies have made 326 deals with a total value of 18 billion dollars in the first 11 months of 2004, up from six billion dollars in 2003, a survey by audit firm KPMG showed.

“Such strong growth can be attributed to China’s economic reforms, WTO entry, opening up of the domestic market to foreign investors and strong growth of China’s economy,” KPMG said in a statement.

Read more