Outbound direct investment is set to soar in the coming years, with double-digit growth rates predicted, the Ministry of Commerce said.

"China's ODI is still in the initial stages, but the growth trend looks set to increase," said Chen Runyun, commercial counselor at the department of outward investment and economic cooperation at the ministry.

ODI surged by 1.8 percent in 2011, from the previous year, to $60 billion.