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title: Cross-border deals in China defy Covid-19 pandemic as international investors eye Greater Bay Area, strong economy growth
description: Cross-border deals in China defy Covid-19 pandemic as international investors eye Greater Bay Area, strong economy growth
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# Cross-border deals in China defy Covid-19 pandemic as international investors eye Greater Bay Area, strong economy growth

- More than 10,000 new foreign-invested companies set up in China in the first quarter, an increase of almost half from a year ago, official data shows
- There were 150 outbound deals by Chinese buyers, worth a combined US$17.15 billion this year, the biggest amount since 2018, according to Refinitiv
  
  The pandemic may have brought cross-border travel to a standstill, but deals have shown no signs of stopping as international investors strive to tap mainland China’s breakneck growth, according to industry watchers.
  
  China’s strong economic recovery this year, together with the government’s promotion of the [Greater Bay Area](https://www.scmp.com/knowledge/places/greater-bay-area?module=inline_auto&pgtype=article) and other development projects, has encouraged international investors to plough their money into the world’s second-largest economy, according to Lennard Yong, chief executive of Tricor Group, a consultancy that helps companies to expand in Asia.

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