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BEIJING， Jan. 12 (Xinhua) -- Mergers and acquisitions (M&A) enjoyed another record year in China in 2016， with outbound M&A soaring 246 percent by value to 221 billion U.S. dollars， more than the previous four years combined， said accounting firm PricewaterhouseCoopers (PwC).
According to a PwC report released on Thursday， the overall value of deals in China's M&A market rose 11 percent to 770 billion U.S. dollars， and deal volumes jumped 21 percent to 11，409 transactions last year.
In value terms， China's outbound M&A grew nearly 3.5 times the previous record set at the end of 2015. There were 51 outbound transactions valued at over 1 billion U.S. dollars， more than double the previous year's record.
"The growth in large outbound deals is offset to some extent by a decline in domestic