There is a certain similarity in the way China and France carry out cross-border M&A.Both countries act in a systemic manner, both when dealing with inbound and outbound transactions. Both countries, sometimes, put emphasis on the nationalistic angle, due to both national pride and the strategic necessity to create national champions in key industrial sectors. Both countries officially support open trade, open investment environment and economic liberalism, just like President Xi has highlighted in Davos and just like President Macron has done during his presidential campaign. However, the reality is often different and national interests prevail over liberal approaches. China tries to find a balance between those two pull factor and the recent One Belt One Road initiative, or the New Silk Road, maybe the way for China to persuade international partners that the country is indeed committed to open trade and open investments.