Export and OFDI are the two main ways for companies to implement internationalization strategies. This paper takes related listed companies of high-tech manufacturing enterprises as the research object, and then constructs regression equations to explore the relationship between the internationalization strategy and productivity. The result shows that the productivity of OFDI enterprises is higher than that of export enterprises. Through the analysis of the knowledge transfer process, this paper also discussed the differences between export and outward foreign direct investment in promoting enterprise innovation. The results show that the OFDI can promote the improvement of the innovation performance more than the export.