Over the past several decades, the “Bring In” and “Go Global” policies implemented in China have encouraged an unprecedented level of investment in and out of the country, creating unique opportunities for Chinese firms to learn and innovate along the paths of inward and outward internationalization. The international business (IB) literature has yet to satisfactorily explain what has been learnt by the Chinese firms and whether and how their learning and innovation have taken place over time. This special issue examines the specific content, nature, mechanisms, processes, and internal and external conditions and contexts of learning and innovation of Chinese firms during the course of inward and outward internationalization. We provide an overview of the “Bring In” and “Go Global” policies, assess the current state of the field, and explicate how the research articles in the special issue contribute to the understanding of learning and innovation of Chinese firms along the paths of inward and outward internationalization.