Chinese acquirers will spend $1.5 trillion (€1.28tn) buying companies and investing overseas in the next decade, 70% more than the previous 10 years, even as regulators at home and abroad block deals, multinatonal law firm Linklaters has said.

At least two of HNA Group’s overseas deals have hit a hurdle as the Chinese conglomerate struggles to take money out of China, said sources, amid a widening crackdown by Beijing on debt-fuelled corporate acquisitions.