While being increasingly aware of the importance of adopting climate-friendly business strategies, Chinese exporting companies have been active in taking "climate-related" actions but moderate in taking "climate-focused" actions. This article presents a preliminary attempt to apply Multi-Level Governance theories to explain the behavior of Chinese exporting companies toward climate change mitigation. It argues that the convergence of state-centered climate politics and market-oriented climate governance, which has a multi-level feature, has shaped the "climate-focused" behavior of Chinese exporting companies. Specifically, nation-states, multinational enterprises, and non-governmental organizations have contributed in the following ways: (1) at the global level, nation-states co-established and interpreted international norms, which generally justify the stance of the Chinese government, have been an indirect source of influence; (2) at the national level, the Chinese government has been the most influential actor, which has put emphasis on energy-saving when interpreting and operationalizing international norms; (3) at the industrial level, multinational enterprises and international non-governmental organizations have been influential contributors by playing a proactive role in launching and running low-carbon initiatives; and (4) transnational public–private partnerships launched in China and some developed countries have offered limited momentum. [ABSTRACT FROM AUTHOR]