Abstract: Emerging economy enterprises are showing a rapid internationalization phenomenon in globalization, and good network embeddedness promotes international factor mobility and optimal resource allocation of enterprises. Based on panel data of Chinese manufacturing listed companies from 2000 to 2019, the impact of network embeddedness on the internationalization speed of enterprises was investigated and the process mechanism of international learning and the boundary effect of host country institutional level was analyzed. The findings showed that network embeddedness not only directly increased the internationalization speed of enterprises based on breadth and depth, but also exerted an indirect effect through the mediating effect of international learning. In addition, the level of institutional development also played a moderating role in the relationship between network embeddedness, international learning, and breadth-based internationalization speed. The article not only enriches the theoretical literature on the relationship between network embeddedness and speed of internationalization, but also provides useful insights into the practice of international business for Chinese enterprises.