While the past decade was the period that saw a huge inflow of foreign investment into China, the coming 10 years are certain to herald a wave of outbound direct investment by Chinese companies.

Although some people have expressed doubts over the intentions behind Chinese companies' overseas investment, a number of examples show that these projects create win-win benefits.

Huang Bao'an, administrative vice-president of Qingdao Kingking Group, the world's second-largest candle maker, has been traveling around the world since early this year, from Africa to Europe, to see whether there are business opportunities amid the spreading European debt crisis.

"We plan to invest $100 million to develop gold and copper mines across the world in the next three years", with Africa being a priority, he told China Daily.

Due to the debt woes, "many European companies, which own energy projects in Africa, are finding it hard to survive and are considering halting or withdrawing their investments. This has given Chinese enterprises huge opportunities to invest abroad and develop natural resources", he said.

As part of the expansion, Kingking, based in the coastal city of Qingdao in Shandong province, is considering buying a gold mine in Mozambique, covering more than 100 square kilometers.

While the European debt crisis worsens and the global economy remains sluggish, developed economies are committed to economic stimulus, while developing economies are boosting their spending on infrastructure construction.

"This offers Chinese companies new opportunities for overseas investment," said Wang Shengwen, deputy director-general of the Department of Outward Investment and Economic Cooperation at the Ministry of Commerce.

Chen Runyun, commercial counselor at the department, agreed.

"China's ODI is still in the initial stages, but the growth trend is clear. ODI is on a fast-growth track which will probably continue for some decades," Chen said.