"The timing is perfect. Because of the flagging global economy, foreign countries, especially those in Europe, need investment to boost growth. Moreover, with the growth of China's economy, an increasing number of private enterprises in the country are financially capable of investing overseas," he said.

According to him, investing overseas offers private enterprises in China great opportunities to gain market access, technology and skills as well as acquire well-known Western brands.

China's non-financial outbound direct investment totaled $102.8 billion in 2014, with 40 percent of the investment made by private enterprises, according to data provided by the Ministry of Commerce.

Fang Aiqing, vice-minister of commerce, said on the sidelines of the ongoing two sessions on Saturday that ODI made by private enterprises in the developed coastal regions in China exceeded 50 percent in 2014.

"I believe we are going to see more outbound investment from private enterprises in the near future," he said.

Despite the rising trend, challenges for private companies to go global remain unsolved with financing difficulties being the top concern. "It is difficult for private companies in China to get loans from banks and there is also the challenge of finding enough qualified professionals from China to expand in the overseas markets," said Fu.