The escalating China-US trade war and rising protectionism continues to cloud the outlook for Chinese outbound M&A. However, China remains the deal driver for M&A in Asia as the country presents promising opportunities for local and overseas investors facilitated by national reforms, consumer behaviour upgrade, industry consolidation and transformation under the new model of economic growth.

Presented by AVCJ and Mergermarket, the 4th Annual China M&A Forum will bring together 300+ senior corporate investors, private equity fund managers, M&A advisers, and policymakers from across the globe to discuss the latest drivers, regulatory and policy updates, key opportunities, and the most pressing challenges that are impacting the M&A landscape.

Agenda

08:15-08:50 Registration and refreshments

08:50-09:00 Welcome address

09:00-09:30 Keynote  address

09:30-10:30 China M&A outlook 2020

Growing tension and the unresolved China-US trade war has led to a sluggish start for Chinese M&A activity in 2019. Nevertheless, these uncertainties have created new drivers for M&As, with resilient investors seeking new markets for growth and refocusing on domestic opportunities that have been buoyed by corporate restructuring and industry transformation under the new economic growth model. Our panel of senior dealmakers delve into the current landscape and offer insights for the future.

·         How has the China-US trade war impacted deal flow in the past 12 months?

·         What are the prime opportunities for acquisitions in 2019?

·         How have strategic investors adapted their corporate development strategies in and out of China?

·         What will be the top five trends shaping China M&A in the year ahead?

10:30-11:00 Networking coffee break

11:00-11:45 Regulatory updates: Getting the deals through

Led by the US and Europe, governments have tightened their scrutiny of foreign investors, sighting potential national security risks as a key concern. New regulations and screening processes are much more rigorous and time consuming for acquirers. As such, it is important for companies to understand the ramifications of these changes and prepare for continually evolving regulatory challenges. Our professionals discuss:

·         What are the major regulatory implications of the FIRRMA, CFIUS, and EU directives? What is the impact for China-related buyers?

·         Which areas and sectors have seen the most regulatory pushback? What will be the trends going forward?

·         How can you plan ahead, from announcement to completion, for a potential regulatory review?

·         What are the lessons learnt from successful and failed deals?

11:45-12:30 Corporate carve-outs and restructuring

Pushed by domestic slowdown, government pressure to deleverage, and SOE reform, Chinese corporates have begun divesting their non-core assets. Meanwhile, as unresolved trade tensions add to rising operational costs and fierce local competition, MNCs are in partial or full exit mode. The result? Plentiful quality assets at attractive valuations. However, accurate evaluation and swift completion is never easy. Our panellists discuss the opportunities.

·         What are corporates’ considerations when selling their businesses? When, what, and to whom should they sell?

·         Have the latest updates to the SOE mixed ownership reform addressed the concerns of private investors? How can foreign firms participate?

·         How to gain access to potential targets? Is now a good time to buy?

·         Are investors expecting more distressed M&A opportunities in China?

12:30-13:30 Networking lunch

13:30-14:00 Plenary address Accessing Asian opportunities

Chinese companies are becoming more ambitious in their expansion across Asia; from OBOR synergies in Central Asia to consumer-related opportunities in Southeast Asia and access to quality products and technologies in North Asia. However, entering these markets, especially in emerging economies, requires good local partners and thorough risk assessment. Our experts showcase the attractive prospects and sectors that best fit Chinese strategic investors, as well as explain how to successfully penetrate these markets.

·         Where are the most interesting opportunities?

·         Which sectors offer the best synergies with Chinese investors?

·         How do you identify the right partners?

·         What challenges do Chinese companies face when venturing into these markets, particularly the emerging ones?

14:45-15:30 Private Equity: The game changer for cross-border M&A

As deal complexity increases due to unstable political developments, tightened regulatory reviews, and deepened cross-cultural misunderstanding, corporates are finding value working alongside private equity in M&A. Despite the differences in expectations, nimble private equity investors are able to successfully navigate the obstacles and achieve the desired outcomes of their acquisitions. Our panel of seasoned fund managers and corporate decision makers discuss how this relationship has evolved.

·         How can private equity and strategic investors complement each other in cross-border M&A?

·         Can private equity investors help enhance the M&A capabilities of strategic investors?

·         What are the differences in expectations and interests in a win-win partnership, and how can they be minimised?

·         How will the model develop in the future?

15:30-16:00 Networking coffee break

16:00-16:45 China’s consumers: Heating up the deal market

Despite talk of a growth slowdown, China’s consumer market remains a hot prospect—driven by a burgeoning middleclass from lower-tier cities, consumers’ behavioural changes, and an increasing awareness about health and wellness. With domestic companies wanting to capitalise in this market, foreign entrants are looking to offer new products and technologies. Our panel of international and local experts highlight the strategies that can best access China consumer opportunities.

·         What are the new consumer trends that are driving deals?

·         Where are the opportunities in each subsector: new retail, healthcare, wellness, and education?

·         What are the latest PRC regulatory shifts? How are they facilitating/hindering inbound M&A deals?

·         When does joint venture/partnership trump M&A?

16:45-17:30 Technology M&A: Can China build its own tech ecosystem?

In recent years, it has become harder for Chinese companies to acquire Western technologies in order to advance their tech competency. In response, the Chinese government, as well as the private sector, has been nurturing homegrown innovation by offering tax incentives to hi-tech industries, supporting the development of startups, and launching initiatives such as the Shanghai Technology Innovation Board. It is hoped that this will create even stronger world-class companies and help China build its own tech capabilities. How will this reshape the M&A landscape? Our tech-savvy investors predict what might happen next.

·         What and where are the latest global innovations in advanced technologies? Can these be found in China?

·         How have government-backed initiatives and policies helped China’s tech sector?

·         How should you manage the risks and costs involved in IP and cyber-security-related issues?

·         Can private equity and venture capital help strengthen the tech ecosystem in China?

17:30 -17:35

Closing remarks and end of conference

17:35 Networking cocktails

 

For more information, please visit: https://www.avcjforum.com/china-ma

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