This article makes an empirical study on the exclusive investing of MNCs＇ joint ventures in Suzhou, which is in the background of the tendency of exclusive investment of MNCs in China. It argues that the exclusive investing conduct of MNCs is the discretional response to the strategy adjustment of parent companies and the improvement of China＇s investment environment. Although more markets open to the foreign companies, the fund supply difficulties of Chinese investment and the improvement of China＇s investment environment are the reasons MNCs tend to invest exclusively, the real determinant factor is the changing strategy of MNCs＇ investment. The different management objectives of Chinese side with MNC, the different cultural backgrounds and the different philosophies of management had made the joint ventures as a main organization form in the specific institutional background and market environment. It suggests that the foreign investment policy should be turned to support local enterprises instead of focusing on preferential policies.