From the perspectives of institutional theory and resource-based view，this study examines the link between the breadth and depth of internationalization and the survival risk of foreign subsidiaries, using a sample of Chinese multinationals listed on the A-share market. It employs the Cox proportional hazard model to analyze these relationships and explores how digital transformation moderates them. Findings indicate that there exists an inverted U-shaped relationship between international breadth and survival risk, and a U-shaped one between international depth and risk, with digital transformation diminishing both. Further, international breadth has a stronger impact on foreign subsidiaries’ survival risk in low-equity firms than in high-equity ones. International depth significantly affects survival risk in high-equity firms and non-“Belt and Road” countries, but not in low-equity firms and “Belt and Road” countries.