-ownership mainstream FDI theories, extended theories proposed by East Asian scholars, and new institutional economics. We argue that under an uncertain environment, when firwithin their capabilities, OFDI based on static and dynamic advantages and country-specific advantages will be effective. On the other hand, when firms in their capabilities, they will pursue OFDI based on a hybrid governance mode, which includes implications for explaining OFDI by Chinese firms and the strategic guidelines for the synergistic interaction between business and government.