In this paper, we empirically examine the relationship between government ownership, synchronicity and M&A performance in Chinese market. We found strong evidence to support “Helping Hand Hypothesis” that bidders with high government ownership yield better performance in both the short run and the long run. We also document a negative relationship between synchronicity measure and M&A performance. Various explanations have been offered to explain this phenomenon. In addition, we find both political influence and stock market valuation play an important role to forecast M&A outcome in China market. Within hot political period, government-related bidders yield better performance in the short run, while in high valuation period, public bidders receive higher premium.