Abstract: Using the data gathered through a survey of 397 Chinese enterprises, based on the business strategy classification for defender, prospector, and analyzer, the relationship between knowledge management strategies, innovations, and performance are tested empirically. The results show that (1) For the defender, codification strategy accelerates two types of innovations, and exploratory innovation promotes performance; (2) For the prospector, personalization strategy accelerates two types of innovations, and exploitative innovation promotes performance; (3) For the analyzer, personalization strategy accelerates two types of innovations, and both exploratory innovation and exploitative innovation promote performance.