A newly released report by PricewaterhouseCoopers (PwC) shows that the total number and sum of overseas merger and acquisition (M&A) deals in 2011 made by Chinese enterprises reached a record high, which stands at 207 and $42.9 billon respectively, Chongqing Economic Times reported Monday.

As Chinese enterprises quicken their pace in outbound acquisitions, the report anticipated that the trend will be more intense in 2012 with many cases targeting first-class global brands, the report said.

In January, large overseas acquisition deals disclosed by the media included: Sany Heavy Industry Co Ltd took over Putzmeister, Germany's largest concrete pump maker, for 324 million euros ($426 million); Guangxi-based Liugong Machinery Co Ltd purchased Huta Stalowa Wola S.A (HSW), a Polish construction equipment manufacturer, for 335 million yuan; Shandong Heavy Industry Group bought a 75 percent stake in Ferretti Group, one of the world's largest luxury yacht makers, and China State Grid paid 387 million euros for a 25 percent stake in REN-Redes Energeticas Nacionais SA, Portugal's power and gas grid operator.

Some research firms predict that in the next 10 years, the value of outbound M&A deals by Chinese companies will amount to $1 trillion.