As a developing and transition country, China’s rapid growth of outward foreign direct investment (OFDI) has attracted significant attention. Meanwhile, China’s special macroeconomic conditions make the OFDI enterprises have unique development models and investment motivations. The paper analyzes the promoting effects of several macroeconomic factors on China’s OFDI through formatting models and adopting 1987~2010 data. The results show that only foreign currency reserves positively correlate with OFDI, while technology, trade surplus, interest rate and exchange rate, negatively correlates with OFDI. Lastly, this paper makes an analysis of the result and gives a suggestion about improving China’s OFDI