On December 3, Lu Suicheng, co-head of the ubs group's Asia-Pacific merger and acquisition department, stated at the ubs media briefing that from the beginning of 2024 to date, china has completed approximately 297 billion dollars in merger and acquisition trades, a year-on-year decrease of about 10%; ubs expects that the merger and acquisition trade volume in china will reach about 325 billion dollars in 2024, a year-on-year decrease of about 15%, which will be a new low for the past 10 years. Lu Suicheng stated that the current environment of gradually falling interest rates is conducive to the activities of private equity funds, thus private equity funds are expected to participate more in the privatization of Hong Kong stocks. In 2025, the volume of merger and acquisition transactions in china is likely to "bottom out and rebound," achieving approximately 15% growth.