Chinese enterprises on the mainland conducted 191 overseas mergers in 2012, compared with 206 in 2011, auditing firm Price Waterhouse Coopers said on Wednesday.

The firm said in a report on China's merger activity that despite declining mergers, transactions hit a record high of $65.2 billion in 2012, surging 54 percent from $42.4 billion in 2011.

The report attributed the merger decline to the slow recovery of western economies, an unstable situation in the eurozone and a slowdown in the Chinese economy.

However, the report predicted that overseas mergers conducted by enterprises on the Chinese mainland will see a strong rebound in 2013.