Since 1980s, the global enterprise cross-border M & a wave of a wave of high tide. With China to accelerate the implementation of the "going out" strategy, a large number of enterprises, more and more to try to foreign investment in mergers and acquisitions. In other words, China is now in a period of rapid growth of cross-border mergers and acquisitions, which has a real and potential impact on China's industrial security and economic security. Based on the situation and development trend of the transnational merger and acquisition of Chinese enterprises, this paper analyzes the obstacles that Chinese enterprises face, and puts forward countermeasures and suggestions from the angle of government and enterprises.