Objective evaluation of the international competitiveness of China Railway's enterprises and the effective enhancement of its overall strength are fundamental to the supportive implementation of China Railway's "Go Global" strategy. Based on AHP and gray system analysis of internal and external factors influencing the international competitiveness of China Railway's enterprises, this paper develops a corresponding evaluation index system of international competitiveness of China Railway's enterprises according to different types of China Railway's enterprises. Furthermore, a comprehensive evaluation on international competitiveness of railway construction enterprises and equipment manufacturing enterprises is conducted. The results show a large growth gap, not only in the management capacity and technological innovation of China Railway's construction enterprises, but also in the asset size, solvency, and creation of equipment manufacturing enterprises.