Following up with China¡¦s WTO entry, China without doubt has become the ¡¥Must-go¡¦ place for any Taiwanese enterprise which is keen to turn its operation to be international or global. However, entering Chinese market would never be a promise to lead to a subsequent successful ¡¥going-global¡¦ story without taking account of certain points as follows. How Taiwanese enterprises enter Chinese market strategically? How to efficiently as well as effectively manage the subsidiaries following their entries? How to maintain and accumulate their ownership advantage afterwards? All of these questions have become the major challenges these days faced by those Taiwanese enterprises that attempt to enter the giant China. In today¡¦s knowledge-driven economy, for the capital-, technology-, as well as knowledge- intense pharmaceutical industry, it would be even more critical to effectively link foreign subsidiaries¡¦ organizational management and coordination to the foreign investment entry modes. Consequently, Taiwanese pharmaceutical enterprises are chosen as the samples in this current research.¡@Qualitative research is conducted for this current research using case study research method. Through in-depth interviews, data are gathered from two Taiwanese pharmaceutical enterprises, representing large and small scale enterprise respectively. Finally, findings obtained of this research as the following attempts to make some contributions to Taiwanese pharmaceutical enterprises¡¦ future investment in China. 1. Enterprise¡¦s characteristics, including business scale, years of China¡¦s investment, and internationalization experience, have influence on the ownership, location, and internalization advantage. 2. Features of pharmaceutical industry in China have influence on the development of the investment advantages in China. 3. Enterprise¡¦s characteristics and China¡¦s investment advantages have influence on the subsidiary¡¦s integration and control as well as the value chain activities.