On Wednesday, China made its first purchase of foreign power assets when its biggest independent electricity producer, Huaneng Power Group, bought two Australian power plants for US$227 million.
"Energy is the most obvious and first stage of this process," White said.
But selling Chinese goods abroad is a different story. With China's annual economic growth expected to top 8.5 percent this year, Chinese companies may be better off focusing on the market they know best, analysts said.
"China is a big market already and is growing so fast that many of these companies are busy consolidating their business here," said Ed Feitzinger, vice president of Menlo Worldwide Technologies, an arm of the global transport services company. "The challenge for Chinese companies is how to get their products established outside of China."
Only a few Chinese brands are known in other countries. There is Tsingtao Beer, and Haier, an appliance giant making inroads in the US with its small refrigerators and wine coolers.
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