Analysts expect Chinese investors to continue to buy into the United Kingdom, despite uncertainties surrounding Britain's decision to leave the European Union.

And many of the acquisitions will be made by small and medium-sized businesses.

The situation was summarized in a report released on Friday that tracks 438 Chinese outbound deals made globally in 2016- a 20 percent increase on the 363 deals made in 2015.

The 2016 deals had an aggregate value of $216 billion, a significant change from 2015's $87 billion.

The report was compiled by the Shanghai-based M&A advisory company DealGlobe and by Hurun, the Chinese company that became well known for publishing an annual rich list.

Feng Lin, founder and CEO of DealGlobe, said factors leading to the increase in M&A activity include Chinese companies' search for overseas growth and intellectual property; and their ease of access to financing.

One trend Feng highlighted was the increasing activity of small and medium-sized Chinese companies. From among the total number of M&A deals made in 2016, only 13 percent were made by State-owned enterprises. The remainder were made by private companies and financial investors, such as private equity funds. This trend became clearer in the first quarter of 2017, when 83 percent of outbound transactions were led by private companies.

Deals leading the 2016 global acquisitions league include ChemChina's $43 billion acquisition of Switzerland's Syngenta, State Grid's $12.4 billion purchase of Brazil's CPFL Energia SA and Bohai Financial Investment Holding buying CIT Group's aircraft leasing assets for $10 billion.

Then, in the first quarter of 2017, Chinese outbound deals slowed. A total of 89 Chinese outbound deals were announced with a value of $26 billion, a drop from the $39 billion from 107 deals during the same period last year.

But experts are still optimistic about the longer-term acquisitions landscape.

"The temporary drop in the first quarter this year may be a reflection of market participants becoming more rational, meaning those acquirers still in the market may be more rational companies keen to invest in post-merger integration and realize synergies more efficiently," said Michelle Wang, director of marketing at DealGlobe.

The United States ranked first as a destination for Chinese companies' outbound deals, with 84 transactions. The UK ranked fourth, equal with Australia, with 25 deals.

Gerard Lyons, a director of the Bank of China in the UK, said Brexit uncertainties makes the UK keen to attract more Chinese acquisitions, particularly in sectors including technology innovation and infrastructure, both of which are also sectors that China is keen to invest in abroad.

Meanwhile, Chinese buyers still have many lessons to learn in the international acquisitions, said Gary Miller, a partner at the law firm Mishcon de Reya.

"Steps, such as taking the time to get to know the target companies' unique cultures, ensuring the right contracts are in place in structuring the deals, and that the right reporting procedures are present, will all contribute toward helping Chinese buyers realize value for their acquisitions in the end," said Miller.