whether entering related industry or not is linked seriously to firm’s international competitiveness. This paper obtains the data from 186 cross-border M&A enterprises in Chang sanjiao area, to analyze the effect between degree of business ties and firm’s international competitiveness. The result shows that: technology fit has a mediating effect between degree of business ties and firm’s international competitiveness during Chinese companies’ M&A process. The higher degree of environment dynamics, the more close between the degree of business ties and technology fit, but has no influencing effect between technology fit and firm’s international competitiveness. In a word, environment dynamics moderates the mediating effect of technology fit between degree of business ties and firm’s international competitiveness.