Nowadays, many firms formulate and execute digital business strategy to leverage the opportunities of e-business value-creation. In this study, we present a business-level strategic perspective of e-business value-creation and suggest that e-business capability is enabled from strategically deploying IT resources in the inter-organizational context. We propose a research model to capture multiple relationships among digital business strategy, IT resources, and e-business capabilities. The research model was tested using a national survey data from 131 Chinese manufacturing firms. Empirical findings showed that steered by digital business strategy, firms focused on leveraging digital linking, IT human resources, and channel partner relationship in e-business, whereas the exploitation of these resources generated inter-organizational e-business capabilities. This study extends our understanding of the initiation mechanism and the evolving process of e-business values captured through digital business strategy.