2020年受新冠肺炎疫情影响，全球经济深度衰退，并购活动锐减。中国经济也深受疫情冲击，并购大幅萎缩，无论是并购交易数量、单笔并购金额，还是并购总规模，都全面下滑。首先，本报告分析了2020年中国并购市场发展的国际宏观经济环境，受疫情冲击并购数量大幅减少，国际贸易活动低迷，债务风险受财政货币政策的刺激持续攀升。其次，对国际并购市场进行了分析，受新冠肺炎疫情的冲击，美国市场交易下滑严重，欧洲并购交易虽受疫情冲击并购数量有所下降，但并购交易金额不降反升。最后，从行业、地域、并购交易规模、并购方式、目的、支付方式、中国企业海外并购概况、跨国公司在中国的并购投资概况和主要行业的并购概况对中国并购市场进行了分析。虽受疫情冲击，中国与成熟欧美市场的差距却在逐步缩小。
Due to the COVID-19 epidemic，a deep global recession and a sharp drop in M&A activity happened in 2020. China’s economy was also hit hard by the epidemic，and mergers and acquisitions shrank sharply. No matter the number of mergers and acquisitions，the amount of single merger and acquisition，or the total scale of mergers and acquisitions，all declined. Firstly，this paper analyzes the international macroeconomic environment for the development of China’s M&A market in 2020，international trade activities were depressed，and debt risks continued to rise due to the stimulus of fiscal and monetary policies. Secondly，it reviews the development of global M&A market，due to the impact of the COVID-19，the transaction volume in the American market declined seriously，while the number of M&A transactions in Europe declined，the amount of M&A in Europe increased. Finally，this paper introduces the development of China’s M&A market in 2020 from the aspects of industry，region，M&A transaction size，M&A method，purpose and payment method and then focus on the analysis of 2020 China’s listed companies mergers and acquisitions，overseas mergers and acquisitions of Chinese enterprises，multinational companies in China M&A investment overview and major industries M&A overview. The gap between China and the mature European and American markets gradually narrowed.
