This book mainly assesses the joint effects of diversification configuration on MNE performance and systematic risk. Findings suggest that their joint effects are curvillinear on performance and systematic risk. Furthermore, low level of region and moderate level of country diversification shows significant positive effect on MNE performance and negative effect on systematic risk.We construct the terminology “balanced configuration in geographical diversification” to identify averaging the balance of geographical diversification between country and region via moderate concentrated China involvement is the optimal strategic diversification strategy to gain better performance and low risk.