This book critically analyses how home institutional elements influence the design and development of Chinese firms' capabilities at home, and questions if and how these capabilities are applicable in a different business environment. Reflecting on timely issues in today's business environment, in which China faces several challenges in domestic and international markets, the author provides an in-depth understanding of Chinese firms' business strategies, objectives and competitive advantages at home and abroad in different environments. In doing so, the book enhances our understanding about the Chinese business environment and how it influences the development of relevant capabilities. The author does this by presenting a study based on a narrative inquiry strategy and a narrative analysis of Chinese managers' perspectives and understanding of the capabilities from three different types of firms with international experience (State Owned Enterprises (SOEs), National Champions (NC), and Private Firms (PF)). An insightful resource for academics, practitioners and policymakers, the book furthers our understanding of the rapid rise of Chinese multinationals inside and outside China.