Long Guoqiang, a senior research fellow of Research Department of Foreign Economic Relations affiliated to the Development Research Center of the State Council of China, made the comments at a seminar discussing the country's reform and opening up.

Investment demands from emerging economies in their industrialization and urbanization will be attractive propositions for Chinese enterprises, according to Long.

"China's comparatively cheap and practical technologies suit many developing countries," said Long, adding that the country should take the opportunity to upgrade its industries.

Further, "going global" is an essential step for businesses to compete with overseas counterparts who are on the global stage. If it does not do this China will be on the leeward side in utilizing global resources including oil, minerals and technologies, Long added.