Abstract: With the development of 40 years of China's reform and opening-up and the rise of information technology such as the Internet, the internationalized environment of CMNEs has taken great changes, and some unique internationalization models are emerging. We reviews the internationalization theories of enterprises in both western developed countries and emerging markets, and compares the new theoretical characteristics of CMNEs internationalization. We think that the network relationship is an important power-bearing of the current CMNEs internationalization, and we put forward a new CMNEs internationalization model based on " network embeddedness - resource connection”.