Chinese companies' days of treating global assets like an all-you-can-eat buffett may be over.

The mainland has been gobbling up assets off its shores in the last few years as companies sought growth overseas with the world's second largest economy slowing amid a transition away from manufacturing. The buying binge saw Chinese companies pump $111.6 billion into overseas acquisitions this year alone, surpassing the full-year of $111.5 billion worth of deals in 2015, Reuters data showed.

But other countries have turned cautious and are throwing up political and economic curbs on China's forays.

Thomas Byrne, president of the Korea Society and a former sovereign risk manager for Asia Pacific at Moody's, said the concerns stem from Chinese government involvement.

"Most Chinese investment originates from state-owned companies, and these are facing the most scrutiny out of concerns over the Chinese government's influence on Chinese firms operating in foreign markets. Even private companies are held in suspicion because of murky ownership structure and indirect ties to the government," said Byrne.