Despite a slowing economy, wobbly stock market and tight currency controls, Chinese corporations are continuing their global shopping spree, gobbling up foreign companies and assets that are up for grabs.

In the most recent deal, China’s Haier Group, the world’s biggest home appliance-maker, has agreed to buy U.S.-based General Electric’s appliance business for $5.4 billion.

The deal, announced Friday, raised the total value of China’s cross-border M&As so far this year to $11.1 billion through 22 deals.

According to Bloomberg, 2015 was a record year for China’s outbound M&As, with 397 deals and a combined value of $93.5 billion, both the highest levels. The deal amount surged 62 percent from a year ago, when the figure stood at $57.7 billion.

The largest deal on record is the state-owned China National Chemical Corp.’s $9 billion purchase of Pirelli Tires, an Italian tire-maker, completed in October 2015.