Chinese corporations are on a steep M&A learning curve and are learning many of their lessons the hard way. Armed with deep pockets of foreign exchange, a thirst for technology and natural resources, and a determination to join the ranks of top-tier multinationals, Chinese companies are buying up foreign assets like never before. But they are running into all the classic problems of an emerging market in its first forays overseas: snapping up assets that lose their shine after the deal is done and discovering that turning around acquired companies can be a long and costly business.
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