On the basis of the previous research, this paper explains the mechanism of impact of domestic macroeconomic factors on outward foreign direct investment, and finds out that OFDI and its influencing factors have significant differences in different provinces. Using threshold regression panel data model, it also empirically measures the threshold levels about various factors influencing OFDI, including the level of domestic economic development, foreign investment, industrial structure and the development of private economy.The results show that: When macroeconomic factors meet or exceed the threshold, they will play a significant role in promoting OFDI in China. On the contrary, the macroeconomic factors have no significant effect on OFDI and will produce crowding out effect, namely macroeconomic factors affecting China's foreign direct investment shows a clear threshold characteristic.