Deng said the company will pay close attention to high-end Chinese manufacturing companies, adding that advanced technologies can be brought in from other countries.
"Increasing M&A exits is a trend in the Chinese venture capital and private-equity market," Deng said.
To add to its storehouse of technology and expand its business overseas, Sany Heavy Industry Co and Citic PE Advisors paid 360 million euros ($470.46 million) this year for the concrete-pump maker Putzmeister Holding GmbH. In 2008, Chinese construction machinery maker Zoomlion Heavy Industry Science & Technology Development Co Ltd bought its Italy-based counterpart Compagnia Italiana Forme Acciaio SpA for 271 million euros, working with Goldman Sachs and two other investors on the deal.
The China-based equipment manufacturer Shandong Heavy Industry Group, Weichai Group announced earlier this year that it had reached agreements with the chief creditors to the world's largest luxury yacht maker, the Italian company Ferretti Group, and would acquire a controlling interest in Ferretti by participating in its debt restructuring.
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Solar yacht put into use in SE China
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