In 2016, the environmental mergers and acquisitions in China, which had previously heated up, began to cool down. The total capital investment in M&A transactions in 2016 dropped from 43.6 billion Yuan to 37.3 billion Yuan. The number of the environmental M&A transactions also dropped, to 89. In this report, we introduced the four development stages of China's environmental protection industry mergers and acquisitions in the past decade, and analyzed the characteristics of each stage in detail. Subsequently, through the M&A situation in 2016, the participation of the NEEQ enterprises and state-owned enterprises was explained, and the future M&A market trend was predicted.
（1） In 2016, the NEEQ environmental protection enterprises participated in the unprecedented high level of mergers and acquisitions. The report clearly compiled the list of 11 new three-board enterprises
（2）Through the geo-analysis of 75 M&A cases in China in 2016, the current regional pattern of China's environmental protection industry has been compiled
（3）Forecasting the future M&A market trend for the year-round M&A situation