China has firmly implemented its going out strategy for more than 10 years. In this time, people have witnessed Chinese enterprises continuously booming outward FDI activities. However, behind this glorious picture, there are still some doubts such as what are the motives of Chinese enterprises outward FDI activities? And in what way can Chinese transnational companies get benefits under international vertical specialization? This book can provide answers to these questions by: 1. Building theoretical models to explain how China could benefit from the spillover effect and get upgraded in the global value chain 2. Explaining Chinese enterprises outward FDI motives with evidence from China s manufacturing industry 3. Conducting general equilibrium analysis of China s technology-sourcing outward FDI and its entry mode 4. Experiencing from China s Automobile and Computer Industries in GVC Upgrading"