Southeast Asia has become a key area for the development of the “Belt and Road’ initiative (BRI). At present, among the six economic corridors planned by the BRI, Southeast Asia has covered two of them – the China-Indochina Peninsula Economic Corridor and the Bangladesh-China-India-Myanmar Economic Corridor. In the meantime, Southeast Asia is also an important part of ”21st Century Maritime Silk Road“ initiative, and thus can been considered as a sample of demonstration for the globalization strategy of the BRI. This study finds that in recent years, China-invested infrastructure and connnectivity building (particularly the railway constructions) have been growing fast in Southeast Asia. In addition, a number of China-ASEAN industrial cooperation zones have been established. Together with an increasing number of enterprises settled in these zones, transnational supply chains have begun to take shape. In this context, China’s private-owned enterprises have also started to expand their investment in the Southeast Asian markets. Nonetheless, the BRI has been confronted with problems and challenges, and has been criticized for the lack of risk management, profitability, sustainability, localization and public support. It shows that the export of ”China Model“ can be problematic, as it remains not adapted to other countries’ local conditions. This research first looks at the achievements of the BRI in Southeast Asia, and then examines the problems and challenges in these projects. Finally, this article also aims to provide a number of policy recommendations to the Chinese government.