The acquisition and anti-acquisition are surging with the developing globalization. In the April of 2007, the CHALCO （Aluminum Corporation of China Limited） as the leader in alumina industry acquired Shandong Alumina and Lanzhou Alumina and successfully was listed in Hongkong, Shanghai and Shenzhen stock exchanges. This kind of acquisition not only embodies the integration as the strategy, but also provides a bigger space for future growth. This paper, aiming at CHALCO’s advantages and disadvantages after acquisition, presents some strategies for CHALCO’s development in the future.