In the recent years, IT industry develops rapidly in China and has become an important force to push the domestic economy. For China IT companies, their investment scale is limited by the financing constraint, and the ICF (ICF) holds a great influence to their investment expenditures. The paper takes ICF as the indicator to evaluate the internal financing ability of the company, and in terms of the various kinds of financing constraints that the listed company in China IT industry faces conducts a sensitivity study on the investment expenditure and ICF. The conclusion of the study shows that the greater financing constraint the listed company in China IT industry faces, the greater influence ICF holds on its investment expenditures.