This is an emergency project of CIDEG. The research analyzes how incentive mechanism influences the risks of overseas investment of enterprises in China. Then, it explores how to effectively control risks through policy design. It is necessary to analyze the differences between the risks of state-owned enterprises and private enterprises. The interaction and the different incentive mechanisms of these two enterprises are also important. Only by clarifying these incentive mechanisms, could we avoid the incentive dislocation in the policy design. The desired policy effect could be achieved, making our enterprises more and more stable in the "going out" road.