Since the "Belt and Road" initiative was put forward in 2013, China's overseas investment has achieved rapid development. As a country with high energy consumption, China's demand for the host country's natural resources such as iron ore and fuel is increasing. The impact of motivation for seeking natural resources on the location choice of Chinese enterprises' overseas investment has also received extensive attention. This paper selects the overseas investment records of Chinese companies in

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... countries from 2007 to 2017 as a sample. And this paper uses the conditional logit model to explore the impact of the host country's natural resources on the location choice of Chinese enterprises' overseas investment with different ownerships under the "Belt and Road" initiative. The study found that the natural resource endowment of the host country has a significant positive impact on the location choice of Chinese enterprises' overseas investment. And it has a stronger promotion effect on the overseas investment of Chinese state-owned enterprises. The "Belt and Road" initiative has significantly improved the role of the host country's natural resource endowment in the location choice of China's non-state-owned enterprises' overseas investment.