Abstract: To compete internationally with firms from developed counties, many Chinese firms perceive the need for improving their innovation capabilities. Recently, more and more Chinese companies have tried catching up by pursuing cross-border merger and acquisitions (CBMA). Prior research has focused on acquirers from developed countries, as they dominated cross-border M&A transactions in the last century. Further research is needed to examine cross-border M&As by acquirers from Emerging Market (EM). This study used the CBMA data from China to investigate if their acquisition experience will influence post-acquisition innovation performance. In particular, the paper focus on knowledge transfer and knowledge integration within the acquiring firms. EM Firms will try to use CBMA to be more internationalization. This study will be helpful for EM firms as it can help the firms to better understand the risk during the CBMA so as to achieve their strategy target.