The value of mergers and acquisitions has almost been halved in 2002, reaching its lowest level since 1995, according to auditing consultancy KPMG. The overall value of contracts was USD 996 billion this year, a 47% fall compares to figures for 2001, which reached USD 1890 billion. The number of contracts signed also fell compared to last year by 24%, from 22,775 last year to 17,414 in 2002, "the worst figures for seven years". Despite this, Asian-Pacific region remained stable, thanks to China, the major play in terms of investments. The region drew in investments to the tune of USD 15.97 billion during the second quarter of 2002, a 46% increase on the preceding quarter's USD 10.98 billion. China is ahead of Japan and South Korea in the investment league.