Abstract: Historically, there have been five tides of global business mergers and acquisitions during the 20th century. Particulary, for the one that emerged in the end of the century, four characteristics can be observed: the scope and scale of the mergers and acquistions are unprecedentedly large; international and domestic mergers and acquisitions occur in parallel; highly competitive but friendly mergers and acquistions play the major role; international mergers and acquisitions rely almost entirely on stock exchange. This paper provides some countermeasures and suggestions for Chinese venture mergers and aquisitions in the 21st century based on the in-depth analysis of the cause of the fifth international venture mergers and acquisitions.