This quarterly review is a comprehensive overview of China’s current macroeconomic, outbound investment situation. This review offers analyses of major economic indicators, overall trends in outbound investment, and discusses major outbound merger and acquisition (M&A) deals for the first three quarters of 2012. During this period, China’s macro economy exhibited slower but stable growth characteristics and positive signs of recovery. As policies and measures begin to take effect, it is expected that China’s economy will bounce back after a U-turn. During the first three quarters of 2012, China’s outbound investment continues to be strong, with increasing outbound direct investment in various industries and regions, especially in the US and Europe. Well-positioned private enterprises are also active players in the outbound M&A market.