China’s cross-border financing policy started in 2014. By the introduction of “No.9 Document” and “No.3 Document” in 2017，cross-border financing has become more convenient，and domestic enterprises can make full use of domestic and overseas market resources. Under the impetus of reducing financing costs，diversified financing channels，flexible use of funds and supporting national strategies，state-owned key enterprises should actively participate in cross-border financing. Domestic and foreign currency loans，bond issuance，international equity financing，exchangeable bond financing，and bridge financing are the major cross-border financing modes. Foreign exchange swaps and cross-currency interest rate swaps can effectively address exchange rate and interest rate risks in cross-border financing.