(Yicai Global) Nov. 10 -- Awareness of soft power competition among Chinese enterprises investing abroad has been on the rise, China News Service reported, citing this year's Report on Chinese Enterprises Globalization from Beijing-based think tank Center for China and Globalization and the Social Sciences Academic Press.

Chinese group's overseas investments were mainly concentrated in Europe, North America and Asia Pacific last year. These continents accounted for 35 percent, 29 percent and 25 percent of the total, respectively. The bulk of Chinese firms' cross-border investments are made through mergers and acquisitions, and the number of such deals rose from 2012 to last year, the report said. 

With the implementation of the 13th Five-Year Plan and the in-depth development of the Made in China 2025 initiative, Chinese companies are paying more attention to enhancing brands and core technologies as well as creating mutually beneficial market situations through overseas M&As.

Chinese group's international investments focus on obtaining soft power from advanced research and development technologies, well-known brands, high-end talents, market channels and advanced management experience, the report said.

A survey of 200 Chinese companies with plans for 'going global' found that brand enhancement has become the main driving force for Chinese enterprises' globalization.

Chinese companies will build global brands and acquire famous international ones to grow their presence in the high-end global value chain, and they should create soft power while enhancing their "hard power" to improve their core competitiveness, the report said.

Enthusiasm for Chinese groups to go global has risen in recent years. China's accumulated foreign non-financial investment hit an all-time high of USD170.11 billion last year.