This study mainly use the official investment and trade data from China and ASEAN to analyze the layout of Chinese enterprises in ASEAN. In addition, this study also collected relevant economic and trade agreement between China and ASEAN, including CAFTA, B&R Initiative, RCEP. Compared with other ASEAN countries, we found that Thailand, Malaysia and Singapore have signed a number of financial stability agreements with China that will assist Chinese enterprises in their operation locally. In the meantime, China’s investment in these three countries and the amount of trade are higher than those of other ASEAN countries. However, Taiwan and ASEAN countries have not signed the agreement on financial stability. Therefore, in the long run, the competitiveness of Taiwan enterprises in ASEAN may be weaker than that of Chinese enterprises. Even so, relative to China, Taiwan still has quite a few advantages export products in ASEAN countries, including synthetic rubber, polarizer, particular copper materials and so on. Although China is the main competitor of Taiwan, it must also prevent the challenges of other Asian countries such as Japan and South Korea.