Chinese M&As in tech sector surge to record high

China's mergers and acquisitions (M&As) in the technology sector have surged to record high since this year, surpassing the US as the world's largest technology acquirer with 45 percent of the global market share, according to financial data provider Dealogic.

Chinese investors launched 69 outbound technology M&As worth $17.6 billion in less than four months of this year, exceeding the total deal value of $14.9 billion in 2015, according to Dealogic.

China's HNA Group Co Ltd, the country's fourth-largest airline group, announced in February the $6.3 billion acquisition of US-listed electronics distributor Ingram Micro Inc by its subsidiary Tianjin Tianhai Investment Co Ltd. The deal is by far the largest outbound technology acquisition by a Chinese company.

Technology has become the top target sector by Chinese companies, which have engaged in a total of 456 deals worth $65.7 billion since this year. The deal value exceeded the $45.6 billion technology M&As carried out by the US companies.

US investment bank Goldman Sachs Group Inc was the top advisor for Chinese technology M&As, involving in deals worth a total of $15.5 billion.