Merger and acquisition deals completed in China were worth a record $352 billion in the first six months of 2015, according to a report from PricewaterhouseCoopers, which now expects a slower pace over the rest of the year.

The report said booming stock markets, industry consolidation and ongoing reform of State-owned enterprises combined to produce the bumper figure.

There were 4,559 deals completed by the end of June, a 10 percent rise on the second half of last year.