In recent years, my country"s economy has faced a serious problem of "departing from the real to the virtual". At the micro level, the phenomenon of financialization of real enterprises has become increasingly prominent, which not only affects the high-quality development of my country"s economy, but also leads to the accumulation of risks in the financial field. Therefore, how to restrain the economy "Removing from the real to the virtual" has always attracted widespread attention from all walks of life. This paper takes China"s Shanghai and Shenzhen A-share non-financial and non-real estate listed companies from 2009 to 2018 as samples, adopts the propensity score matching double difference method, and empirically tests the effect of corporate mergers and acquisitions on the financialization of real enterprises from the perspective of industrial optimization and development. Inhibition influence and mechanism, and the triple difference method is used to test the difference between domestic and overseas mergers and acquisitions on the financialization of real enterprises. The study found that: corporate mergers and acquisitions have an inhibitory effect on the short-term and long-term financialization behavior of enterprises, and the inhibitory effect of overseas mergers and acquisitions is stronger; domestic mergers and acquisitions mainly through the "economy of scale and scope effect" and "industrial chain synergy and complementarity effect". "Inhibiting corporate financialization, overseas mergers and acquisitions mainly inhibit corporate financialization through "industrial chain synergy and complementarity effect" and "technological synergy effect". The research of this paper shows that enterprise mergers and acquisitions can fundamentally solve the problem of economic "departure from real to virtual" by promoting the healthy and sustainable development of the industry and enhancing the attractiveness of the industry to capital.