More on target

"In the second half of this year, sectors of wealth management and luxury goods will be Fosun's focus and they have such deals in storage," said Liang.

Liang said although cultural differences can be a challenge when seeking investment opportunities around the world, they have discovered ways to overcome it.

"Fosun seeks to be a kind shareholder in that we do not want to win the control of the companies," he said.

"For management teams, we will make them enjoy the benefits from the companies' development. We also care for local staff and guarantee their employment."

Zhan Chunxin, chairman and CEO of the Chinese construction machinery manufacturer Zoomlion Heavy Industry Science & Technology Co Ltd, said Chinese companies should have localization work after acquiring a company abroad.

"Zoomlion has not dispatched a single Chinese employee to work at the Italian company Compagnia Italiana Forme Acciaio SpA," said Zhan.

CIFA is a concrete machinery manufacturer that was acquired by Zoomlion in 2008. At the time it was the world's third-largest concrete machinery manufacturer.

CIFA's profit has grown more than 50 percent in the first half of this year compared with the same period six years ago, according to Zhan.

"Tolerance and inclusiveness, sharing both risks and rewards, taking responsibility for employees and the future of the company, can be fundamental rules making the acquisition a success," according to Zhan.

Alan Wang, a partner at international law firm Freshfields Bruckhaus Deringer based in Beijing and Shanghai, told China Daily that when Chinese companies go abroad for a deal with bidders from other countries, a long period of waiting for receiving approvals from Chinese government authorities can be a real challenge to their success.

But Wang said some companies such as Fosun Group that have accomplished several successful stories show it can be smoother and quicker to get government approval while the Chinese government is also taking steps to simplify the outbound approval process.

Wang added that Chinese enterprises should understand the local laws and market practice in deal negotiations and be prepared to follow them.

"For instance, although signing a memorandum of understanding does not mean reaching a formal contract, Chinese enterprises should still take the MOU negotiation seriously. Whatever has been agreed in the MOU should be respected so as to ensure contractual negotiations and that good long-term business relations are preserved," said Wang.