In recent years, the number and scale of Chinese enterprises' overseas mergers and acquisitions is increasing. The industries and fields in which they are involved are keeping expanding. And this becomes the important form of implementing the strategy of "going out". However, the performance of Chinese enterprises' overseas M&A has become the focus of debate. Based on the empirical studies of Chinese enterprises' overseas M&A performance, this paper is trying to answer the question and to provide countermeasures so as to improve the performance and the success rate of Chinese enterprises' overseas M&A.The content of this paper includes six parte: The first chapter demonstrates research context, and the innovation. The second chapter relates the FDI theories, the related research achievement at home and abroad are reviewed and evaluated. The third chapter describes the history and current situation of Chinese enterprises' overseas M&A and emphasizes the traits of overseas M&A. The fourth chapter is sample selection and data sources of Chinese enterprises' overseas M&A. The fifth chapter is an empirical analysis of the performance of Chinese enterprises overseas M&A. The last chapter is to illustrate the conclusions of empirical research, study pointed out the deficiencies of article.