The volume of Chinese outbound M&A has picked up over the past few years, and several very large deals have captured news headlines. But what are the real forces driving the market for cross-border M&A? And how big is it, really?

In this podcast, Nick Leung attempts to clear up some of the myths and misperceptions surrounding this rapidly changing market with David Cogman and Paul Gao. David and Paul are Partners in McKinsey’s Hong Kong office. Nick is Managing Partner of McKinsey’s Greater China Practice.