A recent report from Dealogic, an international information provider on investment deals, says Chinese outbound M&A volume increased for the sixth consecutive year to a record $111.9 billion in 2015, breaching the $100 billion mark for the first time.

A recent report from Boston Consulting Group shows the changing trends in Chinese overseas M&As. From 1990 to 2014, about 40 percent of M&As were in energy and resources. But in recent years, only about 20 percent have involved energy and resources, while about 75 percent were in technology, brands and market share.

Manufacturing is an important sector that has drawn the attention of Chinese entrepreneurs, who are encouraged by Made in China 2025, China's national strategy to upgrade its manufacturing sector.

Figures from the Ministry of Commerce show that, from January to November 2015, outbound investment in the manufacturing sector was about $11.8 billion, a year-on-year increase of 95.4 percent, with $5.89 billion going to equipment manufacturing, a year-on-year rise of 117.3 percent.

"Germany and the US, whose manufacturing is most advanced, have become targets for Chinese companies," Wang at the Center for China and Globalization says.

Joyson Electronics, an auto parts company in Ningbo, Zhejiang province, is a typical investor in Germany's high-end manufacturing. The company was established in 2004, and since 2011, has acquired four German companies in auto, software, robot and auto parts sectors. It has now about 20 production and sales bases and four research centers globally, and is a supplier for top car brands including BMW, Audi and Mercedes-Benz.