High operating costs 'no barrier for Chinese firms'

"For example, if a US company is targeting the European market, it will give firms such as ours a mandate to do research for it. But Chinese companies are not yet ready for that," Attias said. "The biggest difference is the way you are approaching the market."

He said Chinese people are usually patient about many things, but when it comes to business, Chinese businessmen always want a return on their investment immediately.

"This is not the way we are approaching the market in France. Particularly for those Chinese companies starting from scratch in Europe, it takes time to build your business there and get your investment back."

But he said Chinese investors are increasingly realizing that when it comes to mergers and acquisitions, it is not wise to radically change an acquired company's organization and rules.

"In many cases, acquired companies have very good brands and projects. They just need cash. You should understand that the company's profits were based on its organization and rules. If you change the rules, you change the premise of its profitability."

According to a report by Deloitte, Europe saw the bulk of both outbound foreign direct investment and mergers and acquisitions investment in 2011-12. In terms of total investment volume, 34 percent of Chinese investment went to Europe, while only 27.1 percent and 17.9 percent went to Asia and North America, respectively.

Of all Chinese investment to Europe in 2011-12, manufacturing took the lead, with 46 percent of FDI volume. Technology, media and telecommunications followed, with a 17 percent share.

The latest Chinese investment came at the end of May when conglomerate Fosun International, which was partnered with AXA Private Equity, placed a friendly offer to acquire French resorts company Club Mediterranee for 17 euros per share, or for about 556 million euros ($719 million).