In　the　Bertrand　competition　framework,　this　article　established　a　stochastic　dynamic　game　model　to　consider　the　strategic　effect　of　debt　financing　in　oligopoly　competition,　and　analyzed　enterprises＇　strategic　debt　financing　decision　and　product　market　competition　decision　during　market　entry.　It　was　found　that　when　the　enterprise　makes　its　business　strategy,　its　ex-considering　about　the　strategic　relationship　between　financing　strategy　and　competition　strategy　will　be　helpful　for　the　enterprise＇s　sustainable　development　under　uncertainty　environment.