Beijing has been seeking to project its growing economic power and influence overseas through the massive Belt and Road Initiative, which aims to revive ancient trade routes connecting it with regions including Europe, Central Asia and the Middle East.
But it hasn't all been smooth-sailing for Chinese companies going abroad. Critics in countries including Sri Lanka and Malaysia have questioned the fairness of financing and costs for deals involving the Belt and Road.
Some high profile deals have gone sour and businesses are also facing increasing hurdles in overseas markets over concerns about security and fairness.
After some past difficulties, Bain stressed that Chinese companies are learning as they go and making smart adjustments when buying up foreign enterprises.
The report noted that companies are avoiding mistakes by being more rigorous and strategic in how they approach foreign acquisitions as well as more skillfully dealing with cultural issues.
"In the past, many Chinese acquirers assumed that they would need to take full control of, or at least strongly influence, the management of an acquired business," said the report.
"Now, leaders take a more sophisticated approach," the report said, citing the example of clothing giant Shandong Ruyi Technology Group which learned that "it pays to use a lighter control model." The company typically leaves the acquired company's brand management team in place, and instead, focuses its energy on bringing those acquired brands to China, according to the report.
"China's outbound boom will only continue as companies look to capture new capabilities that strengthen their domestic position while also growing overseas for a leadership position in industries in which they can gain a competitive edge," the Bain report noted.