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"For a company to become internationally competitive, the question is not whether or not to expand its business overseas through M&As, but when to make the move," said Jiao.

"Gree used to depend on imports of numerical control tools, which often imposed multiple access limitations. The company had to wait for foreign experts if there were technical problems," said Shen.

"Global companies in China no longer need to ship their products away from the manufacturing facilities in the country. Instead they are becoming more inclined to tap growth from the robust domestic market demand," said Wang Shouwen, vice-minister of commerce.

"From the beginning of the year, the Chinese economy has been stable and has shown improving momentum," Ning said during an interview in the so-called "minister's passage" at the annual meetings of the national legislature and the top political advisory body.

"For our international outlets, we have more food safety SOPs than in the US, especially in Shanghai," he said.