More　and　more　Chinese　enterprises　have　participated　in　the　Belt　and　Road　initiative　(BRI)　since　its　launch　in　2013.　However,　have　they　all　actually　benefited?　Which　companies　otherwise　have　benefited　most　from　the　plan?　To　answer　these　questions,　this　paper　analyzes　the　impact　of　the　BRI　on　Chinese　enterprises.　Among　several　findings,　it　reveals　that　the　performance　of　companies　remained　low　even　though　the　initiative　policy　initially　stimulated　performance,　the　performance　of　enterprises　depends　on　the　geographical　location　of　enterprises　and　that　the　returns　of　China＇s　outward　foreign　direct　investment　in　various　industries　became　more　volatile　with　only　the　mining　industry　enjoying　better　returns.　Thus,　the　paper　shows　that　the　BRI　offers　Chinese　enterprises　opportunities　but　also　brings　challenges　for　companies　to　optimize　the　allocation　of　their　resources　and　improve　the　performance　of　their　investments.