As global economic policy uncertainty continues to rise and Chinese companies keep going global, it is of more practical significance to explore the impact of economic policy uncertainty on the location choice of Chinese enterprises’overseas investment. This article uses the industrial and enterprise database to match the Ministry of Commerce’s business directory and other databases，and uses economic policy uncertainty index constructed by Baker et al.(2016) to measure the economic policy uncertainty of America. The study finds that: first, the U.S. economic policy uncertainty has a deterrent effect on Chinese companies’choice of foreign investment locations: One is that enterprises have a depressing effect on the U.S. investment. The other is that it has a negative effect on Chinese companies’investment in other regions, that is, there is a“third place hindering effect”. Second, we examine the influence mechanism of the company’s operating experience and market power from the perspective of the company’s microcosm. Research shows that the negative influence of the U.S. economic policy uncertainty on foreign investment is more obvious among the enterprises with more operation experience, while the influence of the enterprises with stronger market power is less. The research of this paper provides a theoretical basis for the government to formulate corresponding policies.