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Enterprises of China are facing a complex international environment when they develop the oversea markets. On the one hand，due to the severe impact of COVID-19，the global economy has suffered a severe recession，and trade and investment have plummeted. In addition，trade protectionism in European and American countries has continued to rise and heat up，further exacerbating the risks of complexity and uncertainty in the global market. So all of these bring many new and thorny issues to the internationalization strategy of Enterprises of China. On the other hand，with the rise of a new round of technology and industrial revolution，the international division of labor system has accelerated and the global value chain has been deeply reshaped，giving new meaning to economic globalization. These have given Chinese enterprises the resources and promotion on a global scale，and provide a rare strategic opportunity to China’s enterprises “going out” strategy and promoting international regional economic cooperation. Under the new international situation，in order to accelerate the national economic restructuring and transformation and upgrading strategies，it is more important to seize opportunities，seek advantages and avoid disadvantages，occupy new foreign markets and new resources，and implement the effective overseas strategy of Chinese enterprises.

Firstly，the report analyzes Chinese listed enterprises in the 2020 Fortune Global 500，Chinese enterprises in the Top 100 Most Valuable Global Brands in 2020 and overseas investment of Chinese listed companies in 2020. Secondly，it studies the impact of the impact of the construction of Beijing Free Trade Zone. Thirdly，it analyzes the internationalization of Beijing enterprises in 2020. Finally，it focuses on case study，that is on five typical Beijing enterprises’internationalization in 2020. In general，this report has carried out a comparative systematic analysis and evaluation of the status quo，trends，and policy orientations of Chinese enterprises’internationalization.

According to the report，China’s foreign trade grew against the trend in 2020 and the quality of trade reached a new level. Trade in services has declined，but the structure of trade in services has been further improved. Foreign direct investment grew steadily，and the investment structure continued to improve. The amount of transnational merger and acquisition and foreign contracting projects showed a downward trend.