As the backbone of national economy，the international operation of state-owned enterprises plays an important role in the process of economic globalization in China. This chapter summarizes the transnational operation status of state-owned enterprises in China from three perspectives：foreign direct investment，foreign trade and cross-border M&A，analyzes the necessity of transnational operation and international management of state-owned enterprises in China，and summarizes some problems existing in transnational operation and international management of state-owned enterprises in China，such as investment decision-making efficiency and effectiveness to be promoted，the trade structure remains to be upgraded. In addition，in the process of cross-border M&A，there are many risks and obstacles in political，legal，financial，exchange rate and other aspects. The construction of international management system and mechanism needs to be strengthened and the management level needs to be improved. Finally，this paper puts forward some policy suggestions to promote the transnational operation and international management of China’s state-owned enterprises. Under the background of the double-cycle new development pattern，China’s state-owned enterprises must learn from international experience，actively participate in global competition and play the coordinating role of the government in order to better participate in the transnational operation and international management. Strengthen institutional construction，strengthen the restriction and supervision of transnational operation and international management of state-owned enterprises，timely adjust business strategies，and improve the modern enterprise system. Improve the quality of management，actively undertake social responsibility，shape the identity of enterprise culture.