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At the very event, the Japanese carmaker that started its business by making weaving looms adopted the beat-them or join-them strategy by announcing an alliance that includes members like Mazda, Amazon and China's ride-hailing giant Didi Chuxing.

At the same time, companies are actively assessing their portfolio of existing businesses, said Yuan. This is likely to result in new inventory of assets coming into the market in the next 12 to 24 months, and private equity is a possible buyer for many of these assets, she added.

At the beginning of 2020, as soon as enthusiastic entrepreneurs set sail, they encountered the headwinds of a black swan event.

At the document-signing ceremony, which was witnessed by the two leaders, the State Grid, China's State-owned energy giant, was granted permission for construction of the second phase of the ultra-high-voltage direct current transmission project of Brazil's Belo Monte hydropower plant.

At the beginning of this month, the company announced it was in the process of closing a deal with BeiGene, a Beijing-based domestic biomedicine enterprise. The deal is awaiting regulatory approval.