Chinese literature once had its splendid era in the Tang and Song Dynasties culminating in Tang poetry and influencing the literatures of its neighboring countries. However, during the past centuries, it has largely been “marginalized” on the map of world literature. On the one hand, large numbers of foreign literary works, especially those from Western countries, have been translated into Chinese, exerting a huge influence on the formation of a sort of modern Chinese literary tradition. On the other hand, few contemporary Chinese literary works have been translated into the major foreign languages. With the help of the rise and flourishing of comparative literature, contemporary Chinese literature has been moving toward the world and had its own Nobel laureate. The author, after analyzing the reasons why Chinese literature has been “marginalized,” argues that Chinese literature will develop steadily in the age of globalization. Globalization in China has undergone three steps: first, it has made China passively involved in this irresistible trend; second, the country has then quickly adapted itself to this trend; and third, China has started to play an increasingly leading role in the first decade of the present century. In this way, contemporary Chinese literature and comparative literature studies will steadily develop with the help of the “Belt and Road” initiative.