Using public markets to make a landmark deal will become more common as multinationals scale up their Chinese operations, says Eduardo Morcillo.

▪ More than 80% of multinationals think China will be their top priority by the end of the decade

▪ The acquisition route will become the increasingly common response to the need to be full-scale

▪ Falling valuations and ending of lock-up periods will drive strong interest in listed company targets

▪ Acquiring listed players might be one of the limited options for some international companies to retain sector leadership, become more local and achieve true relevance