Following the development of Asian economic market, capital flow and transnational corporations’ reorganization & merger are inevitable. Here, we are necessary to examine whether China has a harmonious environment to transnational corporations’ reorganization and merger. Compared China with Japan ,one of which has a perfect law system and a rich corporations’ reorganization experience in the world, the article is focused on the trend of internationalization of corporations’ competitiveness which is accompanied by the internationalization of the corporation law system ,also focused on the improvement of Chinese reorganization law under the circumstance of corporations’ globalization.