Outbound mergers and acquisitions (M&A) by China's enterprises have reached the highest level since 2005 in the first three quarters of this year in terms of transaction volume, a Deloitte report showed on Wednesday.

In the first nine months of 2012, 133 overseas M&A cases involving Chinese firms have been disclosed, down from 145 in the same period last year, but the total M&A volume surged 16.2 percent year on year to $52.2 billion, according to Deloitte.[Company Formation | Offshore Company | Company Incorporation]

The report has covered enterprises from the Chinese mainland, Hong Kong, Macao and Taiwan.

Xie Qilong, a top executive of Deloitte China responsible for M&A service, said outbound M&A activities of Chinese firms have not been seriously affected by the global economic gloom and stayed brisk.

In the nine-month period, a significant part of the Chinese outbound M&A activities took place in the energy and resources sectors, which accounted for 29 percent of the total number and 68 percent in terms of transaction volume, said the report.

Outbound M&A activities in consumption and transportation sectors ranked second, both in case numbers and trading volume, while auto and real estate sectors saw an increase in M&A activities from the previous level, it said.

China's 12th Five-Year Plan (2011-2015) has played the most positive role in encouraging Chinese outbound M&A, and the slowdown in the country's economic growth might have limited impact on future M&A activities, added the report.

Deloitte predicted that outbound M&A activities of Chinese firms will bring business into the financial service sector, as more M&As will give rise to demand for services from Chinese banks, which will in turn seek overseas expansion.[Company Incorporation USA]

Chinese banks are likely to consider assets of the European financial service sector due to its current condition, it added.