A report by International accounting firm Price Waterhouse Coopers says that China's overseas mergers and acquisitions hit a record 134 billion U.S. dollars in the first half year.

It notes the figure was nearly three times last year's and exceeded the combined value of overseas M&As by Chinese firms during the past two years.

Twenty four deals exceeded 1 billion U.S. dollars each, with ChemChina's takeover of Swiss agrochemical and seeds company Syngenta being the biggest.

It says privately-owned firms contributed to two thirds of the 20 largest overseas M&As.